I think they’ve made their intentions for a value unlock pretty clear. Rashesh has committed to putting out a plan for the same.
The valuation today is justified by the Mutual Fund and Alts business alone – they are the key assets here.
Take those out and you’re left with 2 poor NBFC, sub-scale Insurance businesses, and an ARC that has ceased to be an attractive business anyway. The only hope is in insurance.
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