Dolly Khanna Multibagger Stock: This kitchen appliances company shares surge 8% - up 540% in 2 years

Dolly Khanna Multibagger Stock: Ace investor Dolly Khanna-backed electric appliances company – Butterfly Gandhimathi Appliances share price jumped over 8 per cent to Rs 1650.4 per share on the BSE intraday trade on Wednesday. The counter was trading near its 52-week high of Rs 1700 apiece touched on August 22, 2022. 

The surge in the stock came on Wednesday mainly after the Offer-For-Sale launched by the promoter company on Monday, opened for retail investors on Wednesday, September 21. 2022. 

Crompton Greaves Consumer Electricals, the promoter of Butterfly Gandhimathi Appliances, on Monday announced to sell 10.7 lakh shares or 6 percent of the company's total equity through an Offer for Sale (OFS), to comply with the minimum public shareholding norms. 

The OFS was opened for non-retail investors on Tuesday and for retail investors, it opened today, September 21. The floor price of Rs 1,370 apiece is a discount of 8.4 per cent from Butterfly Gandhimathi's closing price on Monday. 

Chennai-based investor Dolly Khanna has a below 1 per cent stake in Butterfly Gandhimathi Appliances, according to stock analysis website trendlyne.com. The investor publicly holds 26 stocks with a net worth of over Rs 576.6 crore as of September 21, 2022.  

Butterfly Gandhimathi Appliances is one of the leading kitchen and small domestic appliances manufacturers of mixer grinders, table-top wet grinders, LPG stoves, non-stick cookware and pressure cookers. It is among the top three pan-India kitchen and small domestic appliances players. 

The shares of Butterfly Gandhimathi have jumped multi-fold or around 540 per cent in the last 2 years from Rs 250 to Rs 1600 per share levels on the BSE. At around 02:30 PM, the counter is up over 4.5 per cent to Rs 1597 per share as compared to a 0.12 per cent fall in the S&P BSE Sensex. 

Meanwhile, CG Consumer Electricals shares jumped over 2 per cent to Rs 424.5 per share on the BSE intraday today, while it has been trading flat with a positive bias to Rs 416.5 apiece at around 2:30 PM.