What are the reasons for the selling?
As i have calculated, more than 30M shares (TESS.N) are changed hands for the consideration of Rs. 0.50 / 0.60.
Therefore, most probably, the seller would be one of the four mentioned below.
1 TESS (PRIVATE) LIMITED 105,791,456 31.13%
2 GAJANTHAN K. MR. 31,239,467 9.19%
3 OSEER M.R. MR. 26,445,077 7.78%
4 DE SILVA S.A. MRS. 25,200,094 7.42%
(Ref: Interim statement as at 20th June 2018)
However, about 60M shares were listed through rights on 22nd June 2018 for the consideration of Rs. 0.80.
I would like to see your views on this.