NEW DELHI, Aug. 16, 2023 /PRNewswire/ -- Shivalik Bimetal Controls Ltd. (Shivalik), a global industry leader in manufacturing bimetal/trimetal strips and shunt resistors, recently witnessed a strategic bulk deal executed on the stock exchange. The deal involved long-term marquee investors (FIIs, DIIs, Multi strategy funds and reputable family offices) underlining strong investor confidence in the Company's growth story and its potential to navigate the evolving market landscape. The sellers were from the promoters' group of the Company who sold 5.48 million shares after which, they continue to hold 51.09% shareholding of the Company. As the promoters' vision and commitment to the business remain unchanged, the transaction achieved the Company's primary objective of introducing high quality institutional investors as its shareholders.
Commenting on this pivotal transaction, Mr. N.S. Ghumman, Managing Director of Shivalik Bimetal Controls Ltd., remarked, "We are heartened by the robust investor interest in Shivalik. This transaction not only underscores the market's acknowledgment of our growth potential but also serves to enhance market credibility and improve liquidity in the market. By diversifying our shareholder base, these deals signal confidence in our vision and fortify our position for potential capital raises through institutional investors in the future."
Shivalik Bimetal Controls Ltd.
Founded in 1984, and headquartered out of New Delhi, Shivalik Bimetal Controls Limited is a process and product engineering specialised business based in India. It manufactures and sells thermostatic bimetal/trimetal strips for switching components used in electrical, electronics, automotive, agricultural, medical, defence, and industrial applications. The Company also makes shunt resistors for use in the high-growth automotive and industrial equipment segments. The rising demand for switchgear, battery management and smart metering systems also conveys solid long-term prospects for Shivalik's product lines. With its unique business model based on proprietary bimetal technologies and niche solutions that OEMs demand, Shivalik thrives in an industry with high entry barriers. Today, as a valued vendor, the Company is making a mark in supplying high-quality bimetals and shunt resistors to the fast-emerging electric vehicles and customisable smart meters of the future,
Shivalik's highly experienced management has led the Company to prominent ownership in technology and applications. Its solid balance sheet, combined with prudent capital management, drives Shivalik's robust growth potential. Shivalik's plants are operated by a team of 640 vastly skilled people, Shivalik serves more than 125 clients globally.
Company Contact
Mr. Rajeev Ranjan – Chief Financial Officer
rranjan@shivalikbimetals.com
Investor Relations: Dickenson World
Shankhini Saha
shivalik@dickensonworld.com
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