on the CR looking from a different perspective..What will the...

on the CR looking from a different perspective..

What will the management gain with an expensive CR (from underwritten perspective)?
If price drops... means dilution at low price. - would lead to SPP oversubscribe at which stage either they dilute further by accepting all offers or pick only 3M at lower price.

IF price rise.. then less dilution but possibly less of subscription and that's why it seems the offer is underwritten.

NOW why the price will rise.... perhaps they have something to show (in terms of deals, revenue etc) in next 1 month.

Why they need CR $s - hinted in webinar for capex and war chest. Overall seems they want to position themselves as a strong player in this segment and like FIJ went for CR .. they too need it to maximise the opportunity in this rising sector.

Disc: bought some more yesterday @48