They definitely can pay a dividend and repatriate funds out of India. When they were vortiv and got the cbi contract they made an announcement intending to pay a dividend. Below is one ann I screenshoted that notes dividend plan but there were others afterwards. The management and board then changed strategy after Piramal investment where a dividend made no sense (better to reinvest capital and go for ipo) and we are now where we are at.
I also wonder about the mechanics of a capital return or sell down, but one guess is it could come about from a return that would have an ex dividend date just before TSI shares list on Indian bourses.
FND Price at posting:
$4.10 Sentiment: None Disclosure: Held
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