Smartness is good but when utilized for the growth of everyone and is disastrous when it is self-centred, ever checked out KP group’s YouTube channel? Filled with auto-biographies of Mr.Farukh which nobody is interested in watching and now this deal clears his intentions and where the company will end up in the long run…the land is not worth more than 25-30Crs. as the outskirts of Surendranagar which is a small town (45 km²) in Gujarat has land prices between 80-100rs/sqft so 2275135.45 sqft x 100 = 22.75Crs. and these guys are ready to pay 126Crs. for that. If you see the AR this guy owns 25+ such companies (why?) more than enough to buy back the entire KPI green for peanuts. Already the debt/equity is at 2.4 and they want to do a further fundraising…amusing! Things were manageable until the developments in the past few days. Would you distribute water if you don’t have enough to drink? but they do! Generous? Don’t have money to fund projects and distribute dividends and who benefits the most out of dividends? Smart? There are many many fishes out there so it is wise not to waste your bait on a fish that might just break the line and take it away.
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