Agree with you, 6 month timeline is wrong. Maybe the employee has mentioned about QIP.
.
To further confirm your statment.
The is the management has said in conference call
In 3 months they need to meet the criteria ( Jul concall )
by December, we need to meet the
SEBI requirement of minimum public shareholding, so we will meet the SEBI requirement.
( May concall )
.
after we meet the MPS requirement as SEBI has
asked us to meet, we will have to go back to SEBI, exchanges, and RBI to get the NOC’s and
then move to NCLT and shareholder approval. On the timeline, I cannot comment whether it
will be one-and-a-half to two years. It also depends on how quick these regulators respond. So,
there is a parallel process going on with one of our peer who is in a similar process and they
have recently announced that they have got one of the regulator’s NOC and they are moving on
that. With the precedence set on the particular subject, I think that the movement for us can be
faster when we go there. That is just our assumption and we will see how things move when we
go there, when we cross the bridge.