Management bis jubilant because as the base of retailers increase two things happen
1. Retail participation leads to investors being vocal of their acquisition thereby leading to a fresh lead of new investors gaining interest.
2. Secondly and the reason the management is happy is that there aren’t many single large group of shareholders which can question them with authority and be susceptible to acquisition. As a large group of investors can join hands and bid for the company. Hence management’s are always happy to have many small investor like us.