SAT Industries Shares Skyrocket as Societe Generale Secures Stake, Hits 52-Week High

7 Jul 2023 , 02:17 PM

Societe Generale, a Europe-based financial services group, purchased a 1.42 % stake in SAT Industries by acquiring 16.1 lakh shares at an average price of Rs 85.05 per share. As a result of the news, the stock price climbed 3.7 % to Rs 93.2 on the BSE. Over the past five days, SAT Industries’ shares have gained approximately 16 %.

Previously, renowned investors such as Ashish Kacholia, Vikas Khemani managed Carlenien Fund, and Jagdish Master had acquired Pre-Initial Public Offering (IPO) stakes in Aeroflex Industries.

SAT Industries recently sold a 3.55 % stake in its material subsidiary, Aeroflex Industries, to Carnelian Structural Fund, managed by Vikas Khemani and others, for Rs 35.58 crore. In May, Ashish Kacholia purchased a stake in Aeroflex Industries, with SAT Industries selling a 4.05 % stake to Kacholia and Bengal Finance & Investments for Rs 40.56 crore.

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