Agree that the promoter holding aspect is a monitorable, but the promoters have indicated over the AGM that they do not wish to dilute at these valuations. In the AGM as well, the management was asked regarding a rights issue and they expressed that they do not prefer to dilute at such valuations and might explore a convertible note. AGM video below is as it is quite informative.
23rd Annual General Meeting of IRIS Business Services Limited
Regarding FII/DII holding, for a company with a market cap of ~250 Cr, I don’t think its the most relevant aspect. A simple glance at shareholders in the public space shows Madhuri Madhusudan Kela owns over 5% of the company for a long time.
Disclosure : Same as above
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