Wendt share price plunges 10% after promoter withdraw OFS

Wendt share price plunges 10 percent intraday on December 22 after promoters of the company Carborundum Universal Limited and Wendt GmBH decided to withdraw the offer for sale (OFS).

Due to delay in tranfer of the sale shares, promoters of the company Carborundum Universal Limited and Wendt GmBH decided to withdraw the notice and accordingly the offer stands withdrawn.

Company earlier announced Offer for Sale (OFS) by Carborundum Universal and Wendt GmBH (sellers), through stock exchange mechanism for aggregate of 94,704 equity shares of the company of face value Rs 10 each on December 22, 2020 for non - retail investors and December 23, 2020 for retail investors and non - retail investors who choose to carry forward their bids.

The sellers have now informed the exchange about withdrawal of OFS of Wendt (India) scheduled for December 22, 2020.

Trading Members, Custodians and other Market Participants of the Exchange are requested to note the same.

At 10:17 hrs Wendt (India) was quoting at Rs 2,959.25, down Rs 215.80, or 6.80 percent on the BSE.

The share touched its 52-week high Rs 4,257.75 and 52-week low Rs 1,590 on 28 August, 2020 and 30 March, 2020, respectively.

Currently, it is trading 30.5 percent below its 52-week high and 86.12 percent above its 52-week low.