It is a very smart move by company.
they have debt equity ratio of 0.3x and am sure can raise debt easily for expansion.
Who would not raise equity at such high valuation. Would any promoter dilute equity if debt is available for expansion? The only reason for doing this is high valuation – debt can always be raised later when valuations cool off.
similar companies with low debt equity but going for equity raise – Waaree, KPI Green, etc
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