SAT Industries gains over 3% as ace investor Ashish Kacholia picks stake

SAT Industries sold 4.05 percent equity shares held in its material subsidiary, Aeroflex Industries Ltd, to Ashish Kacholia and Bengal Finance & Investments Private Ltd for an aggregate amount of Rs 40.56 crore.

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Shares of SAT Industries gained more than 3 percent on May 16 as marquee investor Ashish Kacholia buys stake in material subsidiary Aeroflex Industries Ltd.

SAT Industries sold 4.05 percent equity shares held in its material subsidiary, Aeroflex Industries Ltd, to Ashish Kacholia and Bengal Finance & Investments Private Ltd for an aggregate amount of Rs 40.56 crore, the company said in a regulatory filing.

As per March 2023 shareholding pattern, Ashish Kacholia did not hold any stake in SAT Industries.

At 9:20 am, shares of the company were trading at Rs 72.5, up 0.3 percent higher on the BSE. From Rs 32.05 in July 2022, the stock has risen to Rs 74.77–today’s intraday high so far.

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SAT Industries has a presence in a wide range of activities such as manufacturing, global outsourcing of products and services, real estate, mining and marketing activities. Meanwhile, subsidiary Aeroflex Industries manufactures stainless steel flexible flow solutions in a facility in Taloja, Navi Mumbai, India.

In April 2023, Aeroflex Industries had filed a draft red herring prospectus with the Securities Exchange Board of India (SEBI) to raise around Rs 350 crore through an initial public offering (IPO). The IPO consists of a fresh issue of Rs 160 crore and an offer-for-sale of up to Rs 190 crore by its existing shareholders and promoters. The OFS comprises up to 12.3 million shares by Sat Industries and up to 5.2 million shares by Italica Global FZC. Sat Industries holds 92.18 percent stake, while Italica Global FZC has 6.52 percent holding in the company.

Both Aeroflex and Sat Industries have dividend payment history. Sat Industries has a track record of scaling up multiple diverse businesses backed by acquisition led strategy.