The recent post is about Max India however I also hold Max ventures but much lower allocation to Max Venture. I hope this clarifies.
As I mentioned, I bought it at much lower price @ around 50 and market cap of 300 croes..where my thinking was partnering with a great entrepreneur on favorable terms (why I thought it was favorable I had written a brief note in Max venture thread) from the beginning as he sets out to build few more businesses from scratch. At the outset, investment thesis included that it is going to be a long journey passing through thick and thin..as the areas he targeted (real estate and education) have long gestation period and has its own teething troubles. Hence, personally, I would want to continue partnering with him..till he builds the businesses to scale which can take anywhere from 7-10 years. We have to continue to monitor the journey traveled and re-evaluate our thesis as they reach various milestone.
My thinking as of now is that there all major businesses (except specialty films) are at inception stage and hence, I can control risk by buying at right price and allocating lower percentage..and as the businesses get built and we get conviction on scale up and profitability, we may get chance to increase allocation.
Thus, being already a part of the story on favorable terms, I would not want to jump off the side car before it reaches the destination. However, anyone planning to buy at this stage, may find that he is paying up more than fair value and hence the expected risk-return becomes less favorable.