Low promoter holding of 27.3% after the IPO, regulatory risks related to the liquor industry and highly volatile operating margins are additional risks to the business. Given these factors, the issue looks more suitable for long-term investors with a high-risk appetite.
Paul Black’s 3 thumb rules for identifying great wealth creators
Veteran portfolio manager Paul Black’s investment framework focuses on identifying businesses with competitive advantages that strengthen over time. His three key rules emphasise widening moats,