Why this smallcap abrasives & bearings stock tanked 20%, hits 52-week low?

Wendt (India) hit a 52-week low of ₹8,374.15, plunging 20% on the BSE in Thursday's intra-day trade after promoter Wendt GmbH announced an OFS to divest up to 37.5% of its stake in the company.

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.

 

At 09:38 am; Wendt (India) stock was trading 17 per cent lower at ₹8,683.10, as compared to 0.44 per cent decline in the BSE Sensex.

 

As of March 31, 2025, Carborundum Universal, Murugappa Group company held 37.5 per cent stake in Wendt (India), the shareholding pattern data shows.  Read Stock Market Updates Today LIVE  

Wendt GmbH proposes to sell 37.5 per cent stake via OFS

 

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 | Muthoot Finance drops 5% even as AUM hits record high; Q4 breakdown here

 

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. 

 

About Wendt (India)

 

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.