OFS today: Wendt India shares set to bleed as parent eyes 37.5% stake sale at 38% discount

Shares of Wendt India Ltd, a manufacturer of super abrasives, grinding machines, and specialised cutting tools, may bleed on Thursday after its Germany-based promoter Wendt GmbH said it was looking to offload 37.5 per cent stake in the company via an offer for sale (OFS), starting today. 
The floor price has been set at Rs 6,500, which is at 37.90 per cent discount to Wendt India's Wednesday closing price of Rs 10,467.65 apiece. The stock is already down 37 per cent in 2025 so far. The scrip, in fact, hit a 52-week high of Rs 18,000 in December last year.

In a filing to BSE, Wendt India said its promoter has 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 in an event of oversubscription Option. They are, thus, collectively looking to sell 37.50 per cent stake.

"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.

Promoter held 75 per cent stake in the company as of last count.

Only non-retail investors would be allowed to place their bids on T day i.e. May 15. While placing their bids, non-retail investors may indicate their willingness to carry forward their un-allotted bids to T+1 day for allocation to them in the unsubscribed portion of retail category. 
For retail investors and for non-retail investors who choose to carry forward their un-allotted bids to T+1 Day, the bidding will be open on  May 16.

The offer would take place during trading hours on a separate window of the stock exchanges, commencing at 9:15 am and would close at 3:30 pm Indian Standard Time on the same date.