AGL’s rights issue (redux!) opened today, and thanks to all the antics and tricks pulled by promoters in the last 1 year, the issue was locked in lower circuit through the day.
Today (April 25th) evening the chairman sends a note exhorting shareholders to subscribe to the issue:
Does anyone know what happens when a rights issue falls through – what happens to those shareholders who didn’t sell their rights and wanted to subscribe.
Disc.: invested and negatively biased
Any updates on what happened after IT raids finished?
I have some small number of shares of Asian Granito and so track it once in a while. It has been almost 2 months since raid was done and there is not initiation from company nor IT dept has made any statement. such things can happen only in India !!
Siphoned funds being shown as losses now. 60 crore loss!!! Like it’s even possible. Sebi sleeping like always.
Negative news I guess but doesnt really matter, there was 0 chance of a hostile takeover by Kajaria once Asian granito promoters succeded with the controversial preferential issue.
Asian granito promoters are fraud, there is no doubt regarding that. The company would be 3-4x in hands of any other promoter.
Disclosure: No Position