I agree here. had the right issue been close to market price, it would not be called cheating but right issue was at 10rs. The purpose was not to raise fund. they could have given bonus shares or even could have done stock split.
In my opinion, the practice was not ethical as promoters gained from inactive shareholders who did not apply. Cheating would be a strong word but for sure it was an unfair mean used by promoter to increase their shareholding.
Also I feel that the stock price is manipulated for Sandur though I dont have any means to confirm that but the huge fluctuations in share price doesnt give me comfort.
P.S - I am a shareholder with small capital in both GPIL and Sandur. However, I have reduced my stake in Sandur and have increased stake in GPIL in recent months.
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