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Business Standard
16-05-2025
- Business
- Business Standard
Wendt (India) slides as promoter's OFS wraps up
Shares of Wendt (India) fell 2.46% to Rs 8,491.55 after the company's promoter concluded its offer for sale (OFS) on Friday, 16 May 2025. The foreign promoter divested a total of 7.5 lakh equity shares, representing 37.5% of Wendt (India)s paid-up equity capital. The base offer involved 6 lakh shares (30% stake), with an additional oversubscription option of 1.5 lakh shares (7.5%). The OFS was conducted in two phases: it opened for non-retail investors on 15 May 2025 and for retail investors on 16 May 2025. The floor price was set at Rs 6,500 per share, representing a 37.90% discount to the stocks closing price of Rs 10,467.65 on 14 May 2025. As of March 2025, Wendt (India)s promoter holding stood at 75%, split equally between Wendt GmbH and Carborundum Universal, each holding 37.5%. On Day 1 (T-day), by 3:30 p.m., the OFS received bids totaling 23,53,852 shares, amounting to 435.90% subscription of the base non-retail offer size of 5,40,000 shares. On Day 2 (T+1 day), by 3:30 p.m., the retail portion of the OFS was subscribed 790.40%, with bids received for 4,74,237 shares against the base offer size of 60,000 shares. 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.
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.
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Business Standard
15-05-2025
- Business
- Business Standard
Why this smallcap abrasives & bearings stock tanked 20%, hits 52-week low?
Wendt (India) share price today: Share price of Wendt (India) hit a 52-week low of ₹8,374.15, plunging 20 per cent on the BSE in Thursday's intra-day trade after promoter Wendt GmbH announced an Offer for Sale (OFS) to divest up to 37.5 per cent of its stake in the company, including a green shoe option of 7.5 per cent, starting today. The promoter fixed a floor price of ₹6,500 per share for the OFS. The stock price of the smallcap abrasives & bearings company has fallen below its previous low of ₹8,400 touched on March 4, 2025. The stock had hit a 52-week high of ₹18,000 on December 11, 2024. Wendt (India), after market hours in an exchange filing on Wednesday, informed the stock exchanges that its Germany-based promoter Wendt GmbH proposed to offload up to 6,00,000 shares of the company, representing 30 per cent of the total issued and paid up equity share capital on May 15 and May 16. Promoters would keep an option to additionally sell 1,50,000 equity shares, representing 7.50 per cent of the total issued and paid up equity share capital of the company, collectively representing 37.50 per cent stake in Wendt (India). "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. ALSO READ | The floor price has been set at ₹6,500, which is at 37.90 per cent discount to Wendt India's Wednesday closing price of ₹10,467.65 per share on the BSE. Wendt (India) Limited is a market leader in super abrasives and a reliable grinding solution provider with a track record of over four decades. The company provides grinding solutions and high-end manufacturing services to various high-tech industries. It has significant export sales to the US, the UK, Germany, South Korea, Taiwan, and Australia.
Economic Times
15-05-2025
- Business
- Economic Times
Wendt India shares tumble 20% as German promoter launches offer for sale at 38% discount
Floor price deeply discounted Live Events OFS schedule and participation guidelines (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Wendt (India) Ltd slipped as much as 20% on Thursday to Rs 8,374.15 on the BSE , after its German promoter Wendt GmbH , announced a two-day offer for sale (OFS) at a steep 37.9% discount to the previous close, triggering a sharp sell-off in the OFS, which opened for non-retail investors on May 15 and will continue for retail participants on May 16, aims to divest up to 37.5% stake in the company. In a BSE filing, Wendt India said the promoter has proposed to offload up to 6,00,000 shares, representing 30% of the total issued and paid-up equity share promoter has also kept an option to sell an additional 1,50,000 equity shares, representing 7.5% of the total equity capital, in the event of oversubscription. If fully exercised, the total stake offloaded would rise to 37.5%.The floor price for the OFS has been set at Rs 6,500 per share — a steep 37.9% discount to Wednesday's closing price and 64% below the 52-week high of Rs 18,000 hit on December 11, 2024. This sharp markdown triggered a strong market reaction, with the stock plunging by the maximum 20% intraday on Thursday. Wendt India shares have already fallen 37% so far in 2025, and the discounted OFS further weighed on investor its exchange filing, the company said, '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 in the event that such oversubscription option is not exercised, the equity shares forming part of the base offer size will continue to be referred to as offer shares.'As of the latest shareholding data , Wendt GmbH held a 75% stake in the non-retail investors are allowed to bid on May 15. These investors can also choose to carry forward their un-allotted bids to May 16 for allocation in the unsubscribed portion of the retail category. Retail investors , along with such carry-forward bids from non-retail participants, will be allowed to place bids on May 16. The offer is being conducted via a separate window on the stock exchanges, open from 9:15 am to 3:30 pm large divestment at a deep discount, combined with the stock's weak recent performance, has put Wendt India under intense market pressure as investors reassess the company's near-term outlook.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
