- Yes 10-20% haircut is in addition to the 408 Cr of CRPS.
- I think funds will come in a month after the closure of the agreement. CEO said it will be signed by October end. He mentioned the month-end in this news item.
- Promoter holding given to exchanges is based on what they consider as promoters. Highgate Industries (now called Euston Industries) holds 5% in the company. This belongs to Birlas only. They have recently changed their office from Birla Building. Overseas GDRs (5%) - I understand these are held by an overseas entity of Birla families (Not sure… But I heard). GDRs holding was around 15% around 10 years ago. Because of share dilution, GDRs stake has come down to 5%. Devi Investment Company seems to be their company only. The exact promoter holding maybe 65-70%.
Anyone still tracking this company?
Due to restructuring and repayment of borrowings, looks like company is in a good position now.