Latest news with #CarborundumUniversal
Business Standard
15-05-2025
- Business
- Business Standard
Wendt (India) tanks as foreign promoter plans exit via OFS
Wendt (India) tumbled 16.83% to Rs 8705.70 after its German parent, Wendt GmbH, announced plans to fully exit its stake through an Offer for Sale (OFS). The foreign promoter is set to offload up to 600,000 equity shares (30% stake), with an option to sell an additional 150,000 shares (7.5%) if oversubscribed. This could take the total divestment to 750,000 shares, representing 37.5% of Wendt (India)'s paid-up equity. The OFS opened for non-retail investors today, 15 May 2025 and will open for retail investors on Friday, 16 May 2025. The floor price for the offer has been set at Rs 6,500 per equity share, a steep 37.90% discount to the last closing price of Rs 10,467.65 on BSE. As of March 2025, the total promoter holding in the company stood at 75%, split equally between Wendt GmbH and Carborundum Universal (37.5% each). By 3:30 p.m. on T Day, the OFS saw massive interest, with subscriptions hitting 435.90% of the base non-retail offer size (5,40,000 shares). A total of 23,53,852 bids were received, signaling strong institutional appetite. Wendt India is engaged in manufacturing, selling and servicing of super abrasives, high precision grinding, honing, special purpose machines and high precision components. The companys consolidated net profit fell 3.66% to Rs 12.89 crore while net sales rose 7.87% to Rs 74.94 crore in Q4 March 2025 over Q4 March 2024.
Mint
15-05-2025
- Business
- Mint
At 52-week low! Wendt (India) plunges 20% as foreign promoter plans full exit via offer for sale
Shares of Wendt (India) Ltd. tumbled over 17 percent on Thursday, May 15, following the announcement by its foreign promoter, Wendt GmbH, to offload its entire stake in the company via an Offer For Sale (OFS) process. The Germany-based firm, which jointly promotes the company along with India's Carborundum Universal, intends to sell up to 37.5 percent of the equity in Wendt (India), including an option to offload an additional 7.5 percent if oversubscribed. The floor price for the OFS has been set at ₹ 6,500 per share — a steep 38 percent discount from the previous day's closing price. This triggered a sharp sell-off in the counter, dragging the stock down to a fresh 52-week low of ₹ 8,374.15, marking a fall of nearly 20 percent during intraday trade. Wendt GmbH currently holds 37.5 percent in Wendt (India), equal to Carborundum Universal, a Murugappa Group entity, which also holds an identical stake. According to the filing, the OFS opened for non-retail investors on Thursday and will be accessible to retail investors on Friday, May 16. In case of oversubscription, the promoters have retained the option to sell an additional 1,50,000 equity shares, which accounts for 7.5 percent of the company's total paid-up equity capital. This brings the total potential divestment to 37.5 percent of Wendt (India)'s equity. "In the event that the oversubscription option is exercised, the equity shares forming part of the base offer size and the oversubscription option will collectively, hereinafter be referred to as 'offer shares' and while in the event that such oversubscription option is not exercised, the equity shares forming part of the base offer size will continued to be referred as offer shares," Wendt India said. As per the March 2025 shareholding data, mutual funds held 6.62 percent in Wendt (India), largely led by SBI Contra Fund which owns a 6.37 percent stake. Meanwhile, 8,943 retail shareholders held a cumulative 16.14 percent in the company, each authorised for up to ₹ 2 lakh in capital. The sharp drop on Thursday extended the bearish trend in Wendt (India), which has seen persistent selling pressure over the past few months. The stock has now fallen over 53 percent from its 52-week high of ₹ 18,000 touched on December 11, 2024. In calendar 2025, the downtrend has accelerated. The stock lost 27.5 percent in January, 21 percent in February, and 7 percent in March, before a short-lived rebound of 11 percent in April. However, May has already erased most of those gains, with the stock losing nearly 20 percent in the first half of the month alone. Over the past one year, the stock is down around 24.5 percent. Wendt (India) is a leading player in the super abrasives and precision grinding space. With a four-decade-long history, it offers high-end grinding solutions to several advanced manufacturing industries. The company also has a strong export footprint, serving clients in the US, UK, Germany, South Korea, Taiwan, and Australia. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
13-05-2025
- Business
- Business Standard
Carborundum Universal consolidated net profit declines 78.39% in the March 2025 quarter
Sales rise 1.31% to Rs 1198.93 crore Net profit of Carborundum Universal declined 78.39% to Rs 29.14 crore in the quarter ended March 2025 as against Rs 134.84 crore during the previous quarter ended March 2024. Sales rose 1.31% to Rs 1198.93 crore in the quarter ended March 2025 as against Rs 1183.40 crore during the previous quarter ended March 2024. For the full year,net profit declined 36.53% to Rs 292.74 crore in the year ended March 2025 as against Rs 461.25 crore during the previous year ended March 2024. Sales rose 4.44% to Rs 4833.52 crore in the year ended March 2025 as against Rs 4628.22 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 1198.931183.40 1 4833.524628.22 4 OPM % 12.2017.70 - 14.7315.96 - PBDT 160.79230.67 -30 784.03841.00 -7 PBT 104.73179.68 -42 572.00650.25 -12 NP 29.14134.84 -78 292.74461.25 -37
