A major worry for me is whether the special resolutions will get approved or not… particularly if the promoters do not get the nod to increase their shareholding vide the preferental warrants then that could be a sign of a power struggle brewing…
they would obviously have to engage behind the scenes with the institutional / corporate/FII’s holding a good chunk of the companys equity beforhand w.r.t the share warrants and the loan security limits that they want approvals for… these require special resolutions
one thing is good that the issue of warrants and the percentage increase is planned in a manner that it will not trigger an open offer
Voting is underway at present and closes tomorrow evening with the AGM on the 27th first half
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