Wendt India shares crash 17% as promoter eyes stake divestment at 38% discount via OFS; check details

The base offer proposes to sell up to 6 lakh equity shares of the company, representing 30% of the total issued and paid-up equity share capital of Wendt India. The total offer size stands at ₹487.5 crore.

The floor price for the offer will be ₹6,500 per equity share. This is 38% discount to Wendt's Wednesday's closing of ₹10,460 per share.

The OFS will take place over two trading days in a separate window of the stock exchanges on May 15 and May 16.

“Only non-retail investors shall be allowed to place their bids on T day, i.e., May 15, 2025. While placing their bids, non-retail investors may indicate their willingness to carry forward their unallotted bids to T+1 day for allocation to them in the unsubscribed portion of the retail category,” the company said in an exchange filing.

The allocation will be at or above the floor price on a priority basis at multiple clearing prices, in accordance with the SEBI OFS Guidelines.

“Up to 150,000 equity shares of the company with a face value of 10 each, representing 7.50% of the total issued and paid-up equity share capital of the company,” the statement further said.

Following the OFS announcement, Wendt India shares crashed on Thursday. At 10:31 AM, shares of the firm were trading at ₹8,689.50 apiece, plunging 16.93%.

In the last five trading sessions, shares of the company have tumbled 8.5%. Over a year’s time, it has tanked 13%. Since November 18, 2024, which is a six-month period, the scrip has nosedived almost 40%. Year-to-date, it has declined over 46%.

Wendt (India) Limited was incorporated in 1980 as a joint venture between Wendt GmbH and The House of Khataus. In 1991, Carborundum Universal, a $5.3 billion Murugappa Group company, acquired the Khatau’s stake in the business. Since then, Wendth (India) has been a 37.5 – 37.5 joint venture between Wendt GmbH and CUMI. The public holds the balance of 25% equity.