This is what the management clarified in the Q1FY24 concall. This is a snippet from my notes that I take after going through concalls of all the companies I hold/track. This info could be a bit dated especially when it comes to holding % of different promoters in the company.
Promotor Group Structuring:
□ One part is the promoter group from the Khaitan family. The Khaitan family holding is approximately 22% – 23%.
□ Second, we have a strategic investor who has invested by the name of Firstview Investments. It’s an investment arm of the OCCL group, which is Oriental Carbon group. This group holds 35%.
□ Promoters are there just to give strategic guidance, but it’s a professionally run company. Major promotors brought in new management to run the company but the promoters are not involved in day-to-day management.
□ One of the big changes that has happened is the management change. Mr. Khaitan just explained that now it’s a professionally run business. So, the decision-making processes are far faster, quicker, and very focused. This is a big change that has happened from the past.
Hope this helps to explain what Amritanshu Khaitan’s role is in the company.
Disc: Invested from lower levels.
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