Bluechip shares are being sold to save 4-5% of interest cost as shares will be replaced by FD for GML collateral. Management explained it in Q3FY24 concall.
Company has acquired both of its entities at very reasonable valuation as shared during Q4FY24 concall.
Warrants have been allotted to the promoters, not the shares. Promoters will have to pay remaining 75% within allowed time frame to be eligible for conversion of warrants to shares.
Remember that Sky Gold’s market cap is close to Rs. 5000cr now. Its no longer a Rs. 200-300cr microcap which can be easily manipulated. Please refrain to make such strong allegations without any strong substantial proof. Opinions are dime a dozen.
Please spend some time to read all concalls and understand its structural nature of the business model. Valuations may be stretched at any time during the journey of the stock – but management doesn’t get to decide the valuation – its the market forces which decide.
@aastar98 – please remove the link to your twitter handle post. Adding links to your personal social media handle posts are not allowed. You cannot use VP platform to get your Twitter post viral.
Disc: invested from lower levels.
