During Tuesday’s trading session, the shares of a leading innovator in the fintech sector and business solution provider are in focus, following the announcement that the company’s promoter is set to offload over 6 percent stake worth up to Rs. 42 crores via an offer for sale (OFS).
With a market capitalisation of Rs. 703.8 crores, at 11:52 a.m., the shares of Bartronics India Limited were trading in the green at Rs. 23.11 on BSE, up by nearly 3.2 percent, as against its previous closing price of Rs. 22.4.
What’s the News
Bartronics India Limited, in its recent regulatory filings with stock exchanges, announced that its promoter, Kinex India Private Limited (formerly Antanium India Private Limited), is set to offload around 1.91 crore equity shares of the company through an Offer for Sale (OFS).
This represents a 6.29 percent stake in the company, having a face value of Rs. 1 each. The floor price for the OFS is set at Rs. 22 each, amounting to a total value of roughly Rs. 42.14 crores.
The sale process is structured in two phases: Non-retail investors can place bids on 14th January (T Day), while retail investors, as well as non-retail investors wishing to carry forward un-allotted bids from T day, will be able to place orders on 15th January (T+1 Day), as per the filings.
Share allocation will be determined based on price priority at or above the floor price, using multiple clearing prices. A portion of the shares, equivalent to 10 percent or 19.15 lakh equity shares, is specifically reserved for retail investors.
According to the September 2024 shareholding pattern with the BSE, Kinex India Private Limited, the sole promoter of Bartronics India, holds nearly 26.06 crores equity shares, representing an 85.57 percent stake, in Bartronics India.
Notably, this is not Kinex’s first divestment in Bartronics. In July, the promoter sold a 4.43 percent stake through an Offer for Sale (OFS), which was fully subscribed.
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Previous News
8th January 2025: Bartronics India entered into the Memorandum of Understanding (MoU) with PTW Group, a Singapore-based semiconductor solutions provider in the Indian market.
The proposed merger of PTW and Bartronics aims to establish semiconductor production, refurbishing, and training facilities in India to meet the growing demands of the semiconductor industry. Additionally, it will support R&D, manufacturing, workforce training, and international collaborations, aligning with India’s goal of becoming a global semiconductor hub.
Financials
The company reported a decline in revenue from operations, experiencing a year-on-year decrease of nearly 29 percent, falling from Rs. 12.4 crores in Q2 FY24 to Rs. 8.8 crores in Q2 FY25.
In contrast, during the same period, the company’s net profit rose from a loss of Rs. 1 crore to a profit of Rs. 0.3 crores.
About the Company
Incorporated in 1990, Bartronics India Limited is currently engaged in the business of providing solutions based on Bar Coding, one of the oldest Automatic Identification & Data Capture (AIDC) technologies.
The company is a leading Fin-tech business solution provider delivering advanced technology solutions to enterprises.
Written by Shivani Singh
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