Sageone is a nice name, and its investment in the company is a welcome step. This investment shows the strength of business model of the company and integrity of the management. This is Sageone philosophy in a nutshell-
The company is issuing 5,81,397 shares [6.17% of the company] to Sageone at the rate of Rs. 430/- per share aggregating around 25 crores.
Issuance of shares has been on a slightly lower price, it could have been on slight premium to the market price.
But the fundamental question is as to what the management is planning to do with this capital? The founders have created this company with almost no capital. I am sure, with judicious use of this capital, the company can go much higher.
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