The debt didnt reflect on the balance sheet though. It was in the form of FCCB… so to a novice, who does the basic balance sheet check before buying, it appeared like a fine company bouyed by the positive commentary by some brokerage houses like ‘ventura’ which further added fuel to the conviction plus the stock appeared cheaper as compared to the peers like Neelkamal etc & the final check of shareholding by marquee funds like Eastbridge, Barclays and Morgan gave the necessary comfort…But like they say “the devil lies in the details”…
Disclaimer : bought very small qty as an experiment at the time of demerger. Happy to pay it as tuition fees for discovering the camouflage…