Pavan Kumar

Congratulations on really good set of numbers. At the current rate of growth, when will you be required to go for equity raise considering CET1 is already at 12.24% in the stand-alone entity? Because the gold loans, I understand the risk weights are 125%. I know you have alluded to reduction in the gold loan growth rate. But I mean, even then we are very close to the regulatory minimum? So that's one question.

Sir, before Girish sir gives this, just one clarification. Because share sale, I mean, stake sale in the subsidiaries takes time, right? The due diligence, everything will take some time. And even if you raise Tier 2 debt, again, AT2 debt, that will be Tie r 2, right? It won't be counted towards Tier 1 and the way...

Got it. So your preference is towards not raising that equity in the immediate term, but...