I am now studying about Adeshwar Meditex. They are company which does marketing and trading of medical disposables like surgical dressings, first aid kits, etc. Recently the promoter has changed. The new promoter has decades of experience in the medical field and has been a minority shareholder in the company since 2017. His son has been the CFO for some time. Together they own upwards of 50% of the company already. If the open offer succeeds fully they will own roughly 86% of the company along with their PACs.
There are a couple of questions that I still have though.
- The current promoter sold her stake at 6.5 rupees per share which is lower than the current market price
- The new promoters haven’t disclosed any plans on what they plan to do with the business. All they have written in the open offer document is that they plan to continue with the same line of business.
So I am still not decided whether I want to invest in the business or not. I will update when my thinking evolves.
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