Had stayd away fm India as most cos tend to b fmly owned & lots of them hv governance issues Pabrai's pathetic excuse 4 not investing in IND
— Samir Arora (@Iamsamirarora) July 3, 2015
This post is in continuation of my coat tailing series (see here)
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Mohnish Pabrai is a well known investor who invests using value investing principles.
His significant holdings in India as on 30 Sept,2014 as per Stock Exchanges is given below:
|Entity||# of Shares||%||Symbol||Date End|
|THE PABRAI INVESTMENT FUND IV LP||7571950||1.56||J&KBANK||201409|
|PABRAI INVESTMENT FUND 3 LTD||4860610||1||J&KBANK||201409|
|THE PABRAI INVESTMENT FUND II LP||993558||1.85||GICHSGFIN||201409|
|THE PABRAI INVESTMENT FUND IV,LP||27606634||2.05||SOUTHBANK||201409|
|PABRAI INVESTMENT FUND 3 LTD||17193578||1.28||SOUTHBANK||201409|
|THE PABRAI INVESTMENT FUND II, LP||15199788||1.13||SOUTHBANK||201409|
(Q) Why change of heart on India ?
Note : This question was in relation to Mohnish’s recent investments in India, which had avoided thus far.
(A)I had stayed away from India as most of the companies tend to be family owned and lots of them have governance issues and hence we didn’t prefer to invest in family controlled businesses.However, we found few opportunities this year, which fit our criteria. One of them is The South Indian Bank.
Why South Indian Bank –
Unlike west or U.S it’s hard to get a banking license in India
60% of the country still don’t have a bank account
Growing middle class are embracing banking and opening bank accounts
It’s not a family owned business -from BitsBusiness