The gory story of FCCB mishaps
is not pretty and of late there’s been a tiny revival.
FSL has just filed EGM for a possible raise with JPM as an advisor, and we see stock moving up 30% in last 15 days. JPM was incidentally also the advisor to Genpact-Bain deal and that deal got Genpact $3.3 Bn valuation. That, and newsflow from the space got us out from the earlier gloomy stance.