⚠️The curious case of GMM Pfaudler⚠️
"Commitments made in Concalls were never Implemented & company continue to lie. "
How?
A thread 🧵
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#GMmpfaudler #redflag #corporategovernance
"Commitments made in Concalls were never Implemented & company continue to lie. "
How?
A thread 🧵
Like Retweet Share Follow if you find valuable
#GMmpfaudler #redflag #corporategovernance
The backstory in Aug-2020, GMM entered into complex transaction involving GMM pfaudler, promoter, DBAG buying out their international parent whuch owns international business
Details of which are summarized below
Most importantly read highlighted in red that stake is locked
Details of which are summarized below
Most importantly read highlighted in red that stake is locked
Redflag 1
Lock in period?
Post complex transaction in Sept-20 concall Company said promoters (Patel 33% & DBAG 24% stake will be locked in for 3 yrs i.e. till Aug-23)
Same was reiterated in Q2FY23 concall also as asked by @saketreddy
Lock in period?
Post complex transaction in Sept-20 concall Company said promoters (Patel 33% & DBAG 24% stake will be locked in for 3 yrs i.e. till Aug-23)
Same was reiterated in Q2FY23 concall also as asked by @saketreddy
But this stake lock in was never intimated to exchange and hence forth lock in was never recorded actually.
So lock in was just communicated in concalls not actually implemented as who cares
Company is not committed to what they are saying in concalls
So lock in was just communicated in concalls not actually implemented as who cares
Company is not committed to what they are saying in concalls
Now the same PE - promoter whose stake was supposed to be locked in till Aug-23 is now selling its entire 29.88% stake.
Investors are cheated as promoters didn't act on what they earlier committed
@YatinMota
Investors are cheated as promoters didn't act on what they earlier committed
@YatinMota
Redflag 2 as highlighted by @deepakshenoy
https://twitter.com/deepakshenoy/status/1310857509989617665?t=Z9E_wt7Qsc-eOa_0rtS73g&s=19
Redflag 3
their complex deal of Aug-20 and OFS of Sept-20
@capitalmind_in @deepakshenoy
OFS : capitalmind.in/2020/09/that-m…
Deal
capitalmind.in/2020/09/unfold…
their complex deal of Aug-20 and OFS of Sept-20
@capitalmind_in @deepakshenoy
OFS : capitalmind.in/2020/09/that-m…
Deal
capitalmind.in/2020/09/unfold…
Redflag 4
How low float were used to pump the prices and now dumping it on retail investors
How low float were used to pump the prices and now dumping it on retail investors
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