On management compensation, standalone net profit is very small hence due to limits on managerial compensation linked to % of profits they might be getting paid by US subsidiary.
Having access to financials of US subsidiary will answer many questions. Companies like TAMO upload JLR financials as well as AR, big companies does that...
Frequent errors in financial statements like numbers don't add up in cash flow and eps calculations mistakes etc show the incapability of CFO, They have major business in US subsidiary but they raise debt/equity from india to invest in US. Couldn't they raise debt from US Subsidiary considering low cost of capital in US...
All IT companies have their base in india and bill revenues from Indian entity while it is not the case with 8K miles.
Revenues of standalone company are very small compared to consolidated so there can be some holding company discount applicable on valuations.
Why did they reverse merge with a shell company with bad reputation and under SEBI lens to raise QIP for acquisitions? CEO mentioned in FORBES article he went to reverse merger as he didnt like VC funding and give them control. He had prior experience in NASDAQ listing he could have waited and went for proper IPO..
I still dont understand why someone will list in india when they dont have much operations from Indian company.