I was thinking about the promoter pledge today (actually non-disposal undertaking) and when I looked at the rating rationale related to that NCD, I realized that this NCD will be redeemed (assuming it will be) this week. I don’t believe Jagran has any other major long-term debt.
If this redemption happens, I guess the promoter pledge will go away too. I am not sure how that will impact the stock price, but theoretically, it should be a positive development (assuming other factors such as circulation, newsprint costs etc. have not deteriorated). Thoughts?
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