I see a big red flag here - First of all, all such investments lead time is atleast 3 months or more (term sheet, Due diligence, legal matters) and the stock is up 85% in 3 months - this is clearly due to the news already being out - so there is a big question mark on promoter group’s ability to keep confidential stuff confidential. I pity those shareholders who would have sold because of not being aware of the news while the buyers were. Stock being up 85% in 3 months with no disclosures smells of you know what.
Secondly promoter buying without disclosure to the exchange that they are under talks for such a large QIP is a violation of spirit of the law if not the words. No sane mind would be so stupid to think that there buying decision in recent past was not motivated by what was going to happen. Again, each share which promoter has bought has been bought from a shareholder who didnt knew something that should have been eitther been disclosed or kept confidential already.
Both these issues clearly point to lack of trust that any sane, logical and discerning investor would put on the management and promoter.
Also please don’t confuse current buying with past buying - buying by promoter at different price is for different reasons and this time clearly the reason is what we all know.