Exactly. It’s legal and common.
Jhaveri surged because Vishnupatel acquired stake. Praveg was listed the same way and has created immense value in the last few years. The stock has surged from single digits to highs of 600+.
If you look at the news related to Jhaveri, the promoters will possibly list another unlisted entity. It’s in the domain of solar energy.
Coming back to Praveg, it won another contract for a tent resort in Diu. They are expanding presence in Gujarat, Daman & Diu, Uttar Predesh, and Rajasthan. If things proceed as per plan, they are positioned to deliver robust growth in the next 12 to 18 months.
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