Thanks for the detailed response. IMHO as well, legacy book issue must have been known by now for most part of it. There is no incentive for management to hide a big negative surprise until later.
As for FCCB, I think it was like 240rs. In one of previous con calls, MD mentioned that he is confident about foreign lenders converting them to equities. He put it as positive and they are confident in the business, etc etc. It was when the share was above 200rs. Lets see what happens. We will know soon.
I have not thought about leverage due to asset-light model. Don’t really know how much % percent co. will keep in its balance sheet for each of partner banks. But 1 lakh crore is indeed a decent growth number with 18% ROE.
Management ESOPs is a great motivator for sure. For all these troubles, none of senior management left the company. There must be some good incentives in play.
p.s: Invested.
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