Shivalik Bimetal Controls Ltd. announces entry of new Institutional Investors, Remaining Promoter Stake Increase, and Leadership Transition
NEW DELHI, Sept. 30, 2024 /PRNewswire/ — Shivalik Bimetal Controls Ltd. (SBCL), a global leader in the manufacturing of bimetal strips and shunt resistors, today announced the increase of the Ghumman Family’s stake (the remaining promoters) in the Company from 25.5% to 33.15%, and the successful onboarding of several reputed institutional investors. This was facilitated by the retiring and exiting promoters, the Sandhu family members. This key development underscores the growing confidence within the financial community and the Ghumman family promoters in SBCL’s strategy, market potential, and technological excellence. The Ghumman family increased holding reaffirms their long-term commitment to the company as the leadership mantle transitions to the next generation.
A Strong Vote of Confidence from Institutional Investors
The recent capital inflow from a roster of elite financial institutions marks a critical milestone in SBCL’s journey. On 27 September 2024, a series of bulk transactions were executed, further enhancing the company’s investor profile. Leading this distinguished group is SBI Mutual Fund, which acquired 31,10,467 shares at an average price of ₹610.6 per share. This was followed closely by Franklin Templeton Mutual Fund, now holding 17,70,912 shares. Other respected investors include DSP Mutual Fund (9,00,800 shares) and White Oak Capital Mutual Fund (1,63,774 shares).
In total, 10,352,735 shares are now held by some of the industry’s most trusted and reputed investment firms, a clear signal of the widespread confidence in SBCL’s growth trajectory. Other notable investors, such as HSBC Mutual Fund (5,73,207 shares), Aditya Birla MF (10,00,000 shares), and UTI MF (10,14,465 shares), further bolster the company’s investor base, bringing deep expertise and financial strength to support SBCL’s strategic objectives.
Commenting on this significant development, Mr. Rajeev Ranjan, Chief Financial Officer of Shivalik Bimetal Controls Ltd. remarked, “The addition of these premier financial institutions to our shareholder base reflects their confidence in our operational model and our vision for the future. We would like to welcome them to our family of shareholders. At Shivalik, we value the partnership of such esteemed investors as we work together to deliver long-term sustainable value.”
Promoter Family Strengthens Commitment Amid Leadership Transition
In parallel with the influx of new institutional investors, the Ghumman family, the remaining promoter family of Shivalik Bimetal Controls Ltd., has increased its stake from 25.5% to 33.15%. This increase is a clear affirmation of their belief in the company’s future and their long-term commitment to driving sustained growth.
More notably, SBCL is embarking on a pivotal transition, with the next generation of the Ghumman family, Mr. Kabir Ghumman and Mr. Sumer Ghumman, assuming leadership roles. They are supported by Mr. Kanav Anand, and Mr. Rajeev Ranjan who will together shape the Company’s strategic direction moving forward, blending the rich legacy of SBCL with modern insights and an innovative outlook. This experienced leadership team is committed to building upon the Company’s strong foundation, ensuring continuity while navigating the rapidly evolving market landscape.
About 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 875 vastly skilled people, Shivalik serves more than 125 clients globally.
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