The shares were sold at a 1% premium over the Tuesday closing price of Rs 83.90. Today, the stock ended at Rs 83.50, down 0.5% over the previous close.
The stake sale comes following a sustained underperformance in the stock. BEW Engineering shares have plunged 44% in the past 12 months.
BEW Engineering designs and manufactures pharmaceutical & chemical plants and process equipment. It designs and manufactures special range of filtration, mixing and drying equipment specifically used in pharmaceuticals, sterile applications, intermediate compounds and food products.
Shares of BEW Engineering are trading below their 50-day and 200-day simple moving averages (SMAs) of Rs 101 and Rs 135, respectively, according to Trendlyne data.
Listed on NSE Emerge, it has a market capitalisation of Rs 109 crore. It was listed on September 16, 2021.
Its issue price was Rs 58 per share, and it was a listing multibagger, making its market debut at a price of Rs 127.60, implying a 120% listing gain.Kacholia, fondly called the ‘Big Whale’ has investments in at least 50 stocks as per the public shareholding data. The net worth of his portfolio is Rs 2,420 crore according to Trendlyne. Some of his portfolio stocks include Shaily Engineering, Xpro, Safari Industries, Balu Forge, Faze Three, Brand Concepts, Stove Kraft and Aeroflex Industries.
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