Yesterday’s development on Sankhya is very positive IMHO. This preferential allotment appears to be a very interesting development in the context of people who are allocated the shares. Ofcourse, promoters raised their stake from 24.19% to 27.82% but more interestingly, the person who walked away with maximum warrants and is show cased as an “investor” in AR is also actually an independent director of the company who joined Sankhya in Feb this year. Clearly he has the best knowledge of the future prospects of the company since he has been with the company for a long time now and would know the prospects of Sankhya inside out and therefore, he committing such a big amount and walking away with more than 12% of the company speaks volumes about his confidence in Sankhya’s future. With these warrants issue, now we have a situation that the people involved in running the company (and the best judge of Sankhya’s future) have overall 27.82+12.67 = 40.49% of the company (up from 24.19%).
Further the pricing is also of interest as the Independent director who is now going to have more than 12% stake in the company is paying around 20% premium to the yesterday’s closing price.
The results now are of acadamic interest as any smart investor would know that ir-respective of results , these warrants clearly predict a strong future for Sankhya. No wonder technically, the stock consolidated at long term supports and is showing serious momentum building up. Let’s see how the story unfolds now.
God Bless !!!