Ok, Understand … update the sheet afterwards.
Equity dilution at discount … who are these people ?!!
I still uncomfortable with promoters behavior!!
It seems like you don’t understand how warrants work. They took the warrants in August when the share price was around 490-500 rupees. Then how is it at a discount?
In fact, the promoters are paying for the warrant within 3 months which is much less than 1-3 years that is the normal expiry period of the warrants. It shows that the promoters are really keen to invest in the company and also to increase their stake at the market valuations.
I understand when people raise questions about transactions that is not clearly explained by the management but to blame the management without understanding the process is not good, especially on this forum.
I am adding this link below so people can have better understanding of how warrants work-
and please remember that Warrant is a perfectly legal and normal process for raising money in Indian markets, and many big companies in the past have used this route.
Timeline of convertion of warrants
Timeline of promoter selling
Promoter is booking profits from warrants.
This deal should be called a related party transaction if what you suggest is true.
We need to understand that Promoter is not one specific person in this case. There are many promoters in Praveg, some are buying stake via warrants while some others are selling. Since most of the promoters are from the same family, it can be due to some internal family related issues.
I have seen similar cases in other companies e.g. Usha martin has a promoter who is selling the shares consistently while the other promoter (brother of the first one) is increasing the stake (although in smaller quantities).
Regarding Eulogia, I agree the management didn’t make enough disclosures but I am surprised that none of the investors raised this topic in the recent concall. If the people here are so concerned about these transactions, why isn’t someone asking these questions in the concall?
For me, I don’t see any of the above mentioned points alarming and hence haven’t raised it in any discussion with management. But many members are raising these issues since many months but are unwilling to take it to the management? Has anyone written a mail to the management or raised this topic in the investors’ call? If not, then it seems suspicious that one is only raising the issues here.
Another bomb dropped by Promoter Group as Transfer of scripts within the grp, entire series of transfer right from resignation, warrant issue, merger and now Share transfer make this very complicated for retail investor. Can someone explain what is happening, are we sensing any wrong intention here… Expert pls help