I would’ve preferred if this was done with Murugappa Group’s own capital as a separate investment rather than use TII capital.
That said it is a fairly small amount ~300cr against 52k cr market cap. And I expect thousands of crores of investments over the next decade or so for this to be a tangible value creator. I’m willing to give the Murugappa Group a pass since they’ve proven to be responsible stewards of capital across many different businesses over decades.