Harin Udeshi stake in Windforce tops 10% mark

Wednesday, 24 January 2024 00:24 - - {{hitsCtrl.values.hits}}

High net worth investor Harin Udeshi

High net worth investor Harin Udeshi has increased his stake in Windforce to over 10%.

The move follows Udeshi on Monday acquiring 15 million shares at Rs. 19.70 each thereby increasing his holding to 136.15 million shares or 10.08%.

At the end of September 2023, Udeshi’s venture Mona Exports held a 6% stake.

Udeshi figured on the buying side when Windforce founder shareholder Debug’s exited. In August last year Debug sold 35 million shares at Rs. 19 each or Rs. 665 million. Originally Debug held 82.7 million shares or 6% stake.

In November last year, Windforce appointed Udeshi as an Independent Non-Executive Director to the Board. Udeshi holds a Bachelor’s degree in Electrical and Electronic Engineering from the University of London and an MBA in Finance and Banking from the University of San Francisco.

Other co-founders Akbar Brothers and Hirdaramni hold a 36.48% and 20.67% stake respectively in Windforce, the leader in the renewable energy sector.

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