Re SPP and falling sp, the same happened with rnu. In rnu's case it was fortuitous timing by md to get raise from institutional investors before the sp fell. Most retail investors ended up buying in market rather than through spp.
if avl needs the money from spp to fund growth then they'll probably try to raise again at lower rate and possibly when the timing is right.
keep in mind there are so many macro events going on globally that are affecting most listed an unlisted companies. Also keep in mind that borrowing is becoming harder and interest rates are increasing (one of the macro events).
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