I think there was some mix up from my end, Sorry for that.
But the company’s group company are into formulation and also into API
For excipient one has to make sure that promoter since has technical knowledge will not share the same with it’s other group companies.
Which in turn is very difficult since it’s person and not the machine.
I’ll be seeing the development here → business is good but IPO funds utilization through Patel family might be a risk and sharing technical knowledge such that the Formulation company itself enters into horizontal expansion is Risk → Personal Opinion is that I don’t see enough Risk premium to bear the risk at this price
But will surely look at appropriate level for the same
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