Vijay Kedia Buys 8% Stake in High-Flying SME Stock, Sparks Market Debate

• Prominent investor Vijay Kedia acquired an 8% stake in Centrix Information Security Limited, an SME-listed microcap company.
• The investment was made via preferential allotment and share swap on February 10, 2026, while the stock was near its all-time high.
• Centrix, a cybersecurity firm, shows strong financials with 21% CAGR sales growth and 20% CAGR net profit growth (FY21-FY25), but trades at a high PE of 51x.
• Kedia's move, seen as contrarian, raises questions about his evolving SMILE philosophy and the risks of investing in high-valuation SME stocks.
• He also holds a 10.7% stake in Innovators Facade Systems Limited, a long-term investment showing a turnaround story with reasonable valuation.