Promoters of Shivalik Bimetal Controls sold 5.48 million shares of the company in a block deal to marque investors that included FIIs, DIIs, Multi-strategy funds, and reputable family offices.

The promoters’ group has retained a 51.09 per cent shareholding. The company’s primary goal of introducing high-quality institutional investors to its shareholder base was achieved through this transaction.

However, the shares were down by 4 per cent to ₹526 at 02:30 pm on BSE.