Well, the shares were worth 30 cr when they pledged them which later became 70 cr and honestly it’s impossible to predict where the share price will be so seems like the promoters just took a risky bet. Waved off almost all the interest they paid and got more capital.
Convenient or not they said they would be selling these shares in the Q1 con-call so doesn’t seem like they decided to sell these shares after seeing Q2 performance. If they sell there are questions and if they don’t sell there are questions. What is one supposed to do? Yeah, i understand that it’s difficult to gauge promoter’s honesty in a company of this size and this pace of growth so invest where you are confident and exit where you are skeptical. I have found discrepancies in a few famous small-cap names based on facts and figures and took an exit yet 1 company still continues to do well and a few doomed right after my exit such companies are always just 1 day away from a catastrophe. In the case of sky-gold there is a lack of 100% clarity but whatever is visible looks quite usual to me.
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