Wendt (India) Limited has informed the Exchange regarding Receipt Of Request For de-Classification from The Promoter.'
WENDT · price
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Awaiting price reaction for this filing.
Wendt (India) Limited has received a formal request from Wendt GmbH (Germany, part of 3M's Abrasive Systems Division) to be de-classified as a promoter of the company. This follows Wendt GmbH's complete divestment of its entire shareholding through an Offer for Sale (OFS) conducted on 15th and 16th May 2025. As on the date of the request (12th June 2025), Wendt GmbH holds nil equity shares in the company. The shareholder agreements between Carborundum Universal Limited (the continuing promoter) and Wendt GmbH have been terminated. The matter will now be placed before the Board of Directors, followed by approvals from NSE and BSE, to formally remove Wendt GmbH from the promoter category.
This is a procedural formality following the earlier OFS exit, so it should not cause fresh share price movement. However, it simplifies the company's promoter structure, with Carborundum Universal Limited now the sole continuing promoter. Retail investors should note the OFS itself (15-16 May 2025) was the real liquidity event, which is already priced in.