Dec 5, 2018

Very strong loss in Ashapura Intimates Fashion

Ashapura Intimates Fashion has given very high loss to me. I have never had monetary loss of this kind even near to it.
Ashapura Intimates Fashion is giving loss of over 95% to me. It is all money lost.

I had posted about Ashapura Intimates Fashion Ltd in Apr, 2018.

Big names in Ashapura Intimates has not saved me.
DSP Blackrock Midcap and others are there to help us think it is a safe company to put our money into. DSP Blackrock holds 5% of Ashapura.

It had high promoters holding of 57.35% and promoters has increased his holding recently. News about opening of stores was coming and business was going as usual. Results were coming as strong growth in business was there.

There was no news of SEBI slapping a fine on promoters.

Where I faulted on checking Ashapura Intimates Fashion?

I think only Scuttlebutt could have saved us. I think simple analysis was telling me not everything is fine. There review was almost none. But I think it is a small player and not getting enough attention but that much revenue it could generate by that much attention.
What is Scuttlebutt? If my example has confused you!
In Scuttlebutt, you try to access information from all source possible. Seeing the product in real life to meeting suppliers and contractors. and taking feedback from other customers.

Today, even a bare website of Ashapura Intimates Fashion is not working. SEBI or any other authority is quite and no notifications about it is coming. At least what course of actions are due to it can be conveyed to us in simple language. The website link is leading me to this:

Ashapura Intimates Fashion Ltd storefront on is empty without any message.

Though Valentine Branded website is still working.

Wait and Watch is the only option left. Those who could not sell, almost all could not sell, can only wait. Selling at this price is not good an option for me. Only 5% value of original investment left. Hoping for some recovery later.