Yes, it is true. Very soon, as the all amalgamations, expansions, merging completed, Southern Ispat's promoter’s stake going beyond 40%.
Southern Ispat's promoter’s are spending Rs.35cr to complete the acquisitions.
The Southern Ispat is having a share capital of 43749100 shares out of that
1,843,337 are held by the promoters resulting 4.21%
1,705,036 are held by the FIIs resulting 3.9%
14,732,363 are held by the public resulting 33%
27,173,400 are held in the form of GDR resulting 62.1%
Now, promoters are investing their own money of Rs.35cr where the whole equity is at 45cr. So, you can get the all clarifications here the promoter are going to hike their stake in a massive manner.
A proven track record from USD 4 Million to USD 75 Million in just 11 months by this fund now entered the southern ispat in a big way. They are going to increase their stake further in this stock and the volumes going to increase further and further.
FIIs are seriously looking in this stock, and ready to zoom in the upcoming days. In this phase, they just enter the stock once their acquisition completes then the real drama begins the stock will zoom….
Go for it, when it is young.
Be and make