Based on video debt investors call minutes from Navi:
- RBI was in discussion for almost 6+ months with company
- Rates were reduced earlier also, but still RBI was not satisfied
- RBI such regulatory measures are new norm – Which is biggest Risk in current scenario to the business as a going concern.
Aside – If issuing a letter is sufficient, then I hope post quarterly results there is no need for investor con-call also. And on top of that why to waste almost 20-30 minutes of Chairman & CFO in repeating the same thing which is there in published PPT.
I believe, having a direct conversation with investors (be it debt or equity) in current scenario – will help to mitigate ongoing blood bath in equity markets for Manappuram.
Also, what do we think – If CFO will not answer a Banker’s call enquiring the state of affairs? If Yes, then why not to interact with equity investor (owner’s) too.
If I am not wrong IIFL did it the very next day and so is NAVI doing. I am sure Manappuram Management is not beyond that of IIFL or Navi.
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