7 hours ago
HomeMarket NewsStock Crash: Wendt (India) shares down 50% from peak after foreign promoter plans exit
Wendt (India) is jointly promoted by the foreign entity and India's Carborundum Universal, both of whom have a 37.5% stake each in the company.
By Hormaz Fatakia May 15, 2025, 10:08:19 AM IST (Published)
Shares of Wendt (India) Ltd., the producer of various products for the diamond processing industry, fell over 17% on Thursday, May 15, after its foreign promoter WENDT Gmbh announced its intensions to sell its entire stake in the company through an Offer For Sale (OFS) process.
Wendt (India) is jointly promoted by the foreign entity and India's Carborundum Universal, both of whom have a 37.5% stake each in the company.
The OFS has opened for non-retail investors today and will open for retail investors on Friday, May 16.
Floor price is at a discount of nearly 38% from Wendt (India)'s closing price on Wednesday.
Among the public shareholders of Wendt (India), SBI Contra Fund has a 6.37% stake in the company. This is most of the 6.62% stake that India's Mutual Funds hold in the company as on the end of the March quarter.
Most of the other stake is owned by 8,943 retail shareholders, who have an authorised share capital of up to ₹2 lakh, and a 16.14% stake in the company.
Shares of Wendt (India) are trading 17% lower on Thursday at ₹8,660. With this fall, the stock is now down 52% from its 52-week high of ₹18,033. The stock now has also halved so far in 2025 and is now trading close to its 52-week low.
