Forensics and the art of triangulation

Batliboi – What promoter has in the bottle (mind) ?

Sequence of events:

1. Announced amalgamation with another promoter firm with share swap

BSE observed meger would lead to promoter holding to 82%

2. Preferential allotment to non promoter investors which include Authum and Quantum family office

This reduced promoter stake from 74.06% to 61.88%

3. Merger which again increased the promoter stake in the combined entity to 72.07%.

The question is –

Did these investors see hidden potential in the merged entity or
Is it a quid pro quo with assured IRR ?

Disc – invested from lower level