Madhusudan Kela Stock Jumps 10% After Fund Increases Holding to 6.9%

Synopsis A Madhusudan Kela-backed fund has raised its stake in a BSE-listed surgical equipment maker through a preferential allotment, sending shares sharply higher.

Shares of a smallcap surgical equipment company jumped 7% after a fund backed by veteran investor Madhusudan Kela increased its holding through a preferential allotment. The development has caught the eye of retail investors who closely track where experienced fund managers put their money.

With a market cap of Rs. 522 Crore, Shares Hemant Surgical Industries Ltd.. are trading at a price of Rs. 405 per share i.e. 4.9% up from its previous closing price of Rs. 386. It made a high of Rs. 411 i.e. approx 12% above its days low of Rs. 366. It is trading at a P/E ratio of 28.6.

Singularity AMC Raises Stake in Hemant Surgical

Singularity Large Value Fund III, a fund under Singularity AMC, has increased its stake in Hemant Surgical Industries Limited. The fund received 6,49,600 new equity shares on May 15, 2026, through conversion of convertible warrants that it had earlier been allotted by the company. In simple terms, the fund had previously received warrants – instruments that give the holder the right to receive equity shares at a later date. It has now exercised that right and converted those warrants into actual shares.

Before this transaction, the fund already held 2,49,600 shares in Hemant Surgical, which was a 1.91% stake. After adding the fresh 6,49,600 shares, the fund’s total holding has gone up to 8,99,200 shares. This now represents a 6.90% stake in the company – a significant jump from where it started.

Singularity AMC is an India-focused asset management firm founded by Yash Kela, who serves as its Founder and Chief Investment Officer. Madhusudan Kela, one of India’s most well-known market veterans with over three decades of experience, serves as Chairman of the Investment Committee. The firm is registered with SEBI and focuses on high-growth Indian companies. It has backed businesses such as WebEngage, Lohum, and mCaffeine, among others. 

It is also worth noting that this preferential allotment has increased Hemant Surgical’s total share count. The company’s equity base has expanded from 1,30,38,400 shares to 1,45,37,600 shares following this allotment. This means existing shareholders now hold a slightly smaller percentage of the company – a natural outcome when new shares are issued.

However, Singularity only received 6,49,600 of these. The remaining shares were likely allotted to other warrant holders at the same time, though the filing does not provide details on who else received them. 

About Hemant Surgical Industries Limited

Hemant Surgical Industries is an Indian medical devices and healthcare consumables company engaged in manufacturing and distribution of surgical and critical care products. Its portfolio includes respiratory care devices, anesthesia products, and hospital consumables supplied to healthcare institutions across India and overseas markets. The company has been expanding its export presence while benefiting from rising demand in the healthcare and medical infrastructure sector.

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