Though i partially agree, but considering the bull run we are witnessing, its not wrong for the promotors to raise some money for future growth. Just look around, recent IPOs like Motison Jewellers, or old names like Praveg, with much less business history and still lesser Profits are commanding higher market caps. But yes agree seeing the highs every day is dizzy and maybe prudent to book some partial profits…
Btw Praveg is also doing a fund raise on 23rd Jan; with preferential allotment to large mutual fund houses and HNIs at price of 670 while current price is 1200+… To be noted that the price at the time of the fund raise announcement was around 700!!
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