The shares of this small-cap company have fallen up to 6 percent after the promoter of the company will sell 90.92 lakh shares via an offer for sale.
With a market capitalization of Rs 2,632.34 crore, the shares of Sanghi Industries Ltd were trading at Rs 101.90 per share, decreasing around 1 percent as compared to the previous closing price of Rs 102.26 apiece.
Description of Events:-
As of March 2024, Sri Ravi Sanghi and Ambuja Cements Limited, are promoters of Sanghi Industries Ltd hold 15.6 crore and 54.12 lakhs equity shares respectively which is equivalent to 72.24 percent together.
Matter Explanation:-
However, Promoter Ambuja Cements and Ravi Sanghi will sell 90.92 lakh equity shares which is equivalent to a 3.52% stake in Sanghi via an offer for sale on June 26-27. The floor price for the OFS has been fixed at Rs 90 per share.
Financial condition:-
Examining the company’s financial performance, revenue magnified by 26 percent from Rs 266 crore in Q4FY23 to Rs 285 crore in Q4FY24, but, during the same time frame, net loss shrunk by 81 percent from Rs 105 crore to Rs 19 crore.
Investor Distribution:-
Examining the company’s recent shareholding pattern, the promoter owns 78.52 percent of the company, retail investors own 21.17 percent, domestic institutional investors own 0.09 percent at last Foreign institutional investors own 0.13 percent.
Company snapshot:-
Sanghi Industries Limited is an India-based firm that manufactures and markets cement and cement products in both domestic and foreign markets. The company sells cement under the brand name Sanghi Cement.
Written by:- Abhishek Singh
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