I see it as a calculated formality IMHO.
There are some price sensitive events that could happen:
1. With this activity in ESI a substantial shareholder notice
2. Funding through option exercise , YES Bank etc
3. Tripartite agreement signed (terms could blow the share price out of the water)
4. Indian government and NLC and NMDC make it an OOH AAAH MOMENT with global exposure (marketing extravaganza).
5. ESI India to list with Neil Pollock on board
6. Other countries and large companies coming on board
I see it as a calculated formality IMHO. There are some price...
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