DSIJ Mindshare

Company  boasts an impressive order book as of December 31, 2023, exceeding Rs 4800 crore, with expectations of further inflows ranging between Rs 4000 to 5000 crore. Notably, the company's stock has delivered multibagger returns over the past year, skyrocketing by an astounding 256 per cent, making it a compelling candidate to keep on your radar.

An intriguing development surrounding the stock pertains to its Foreign Institutional Investors (FIIs) holding, which surged to a record high of 1.98 per cent as per the shareholding pattern for the December 2023 quarter, up from the previous figure of 0.50 per cent.

However, as the issue progressed, a cloud of uncertainty descended. Despite an overwhelming response (received subscription for 1,43,31,856 equity shares, which is 118.35 per cent of the issue size) from eager investors, the company found itself falling short of the minimum subscription threshold of 90 per cent. How could this be?

At the start of the year, the company has found itself at the center of attention as 25 entities, including notable names like Sheth Developers and Sunteck Realty, have expressed keen interest in acquiring the beleaguered company, which has been mired in bankruptcy proceedings.

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