I used to meet one of the Hopewell promoters in a Ceramic Tableware Company in Jaipur regularly since about a decade ago. Have tracked Hopewell’s progress.
The initial investment in Hopewell Tableware was approx. 75 crores.
Sales were growing at scorching pace 1 cr - 15 cr - 70 cr in 3 years.
I heard that there was some conflict between the promoters and/or liquidity squeeze that led to the premature sale at the value of paltry 27 crores.
One needs to also understand the quantum of debt / liabilities of the company transferred to Borosil Glass, if any by Hopewell, apart from infusion of 10.89 crores declared by Borosil.
Certainly this can be a good and scalable opportunity for Borosil Glass.
Disc: Not invested, however, planning to take a tracking position.