Dr. Gauravv Mittal candidly states that it is baseless for a promoter to be concerned about the nuisance an outside investor can create in a company where dilution takes place.
Promoters are worried about the nuisance value that outside investors can create in the smooth running of a company. Dr. Gauravv Mittal, in the podcast, explains that investors normally do not have a large enough stake in the company when an IPO or preferential issue is undertaken. This means they will not be in a position to disrupt the normal functioning of the company or create an impediment to growth.
As an MD, a promoter gets two terms of five years each, after which a successor would take over. A promoter needs to remain focused on growth and should not be disturbed, derailed, or disillusioned by minor nuisances caused by outsiders, as long as the business is running in a compliant manner.