The promoters ZF International UK planned to sell the 18.10 percent stake through the offer of sale.
Consequently, On March 25, 2021 intraday the share price of WABCO India went down 8 percent.
The promoters made arrangements for the offer of sale in order to sell the shares. The decision finalized with the viewpoint to achieve the minimum public shareholding. Also, this aims to generate ₹1,872 crores from the OFS.
For Today option is available for non-retail investors. Adding to that, for the retail investor the option will start from Friday
The floor price marked at Rs 5,450 per share.
The trading price at 1400 hrs was Rs 5,611.65 with down 490.60.
Additionally, the company announced that it will sell 1,717,388 equity shares. The face value per share is Rs 5 each. This amounts to 9.05 percent of the capital of the company. This portion includes the issued and paid-up equity share capital.
Earlier, in 2020 together Wabco Asia Private Limited and ZF International UK had a 93.11 percent stake in the company.
Wabco Asia Private Limited holds 75 percent of the total stake. The remaining portion from the combined stake which is 18.11 percent was under ZF International UK.
WABCO India Ltd started its operation in 2004. It supplies technologies and services focused to improve the efficiency of vehicles in the country.
Earlier, in 2020 the income of the company was Rs 574.31 Crore. This was 33% more than the last quarter-end.
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