Why TSN is so undervalued., page-60

I think you need to take note of the composition of the register, 1.8bn on issue is relevant only if you can't account for where all the shares are being held. In this case, 40% of the register is accounted for in management/family/friends/related parties. There was an unstable hand but they have exited.

The ATM market in India is competitive, but TSi is funded, and is tied in to top banks in India. In other word, TSi IS COMPETITIVE.

You see it all the time, companies list, but probably not investment grade for 2-3 years. But I think TSN has definitely become investment grade now.

I'm saying track record as in your track record. Mine is clearly visible. So happy to back TSN.