Wabco India’s promoter group plans to sell up to 6.5 lakh shares for at least INR 425.75 cr, Auto News, ET Auto

New Delhi: Auto elements maker Wabco India Ltd on Tuesday mentioned its promoter team ZF Global United kingdom Ltd plans to sell up to 6.five lakh fairness shares for at the very least INR 425.75 crore by way of the stock exchanges. In a regulatory submitting, Wabco India mentioned the seller proposes to sell five lakh fairness shares of a facial area worth of INR five every single symbolizing 2.64 for each cent of the whole issued and compensated-up fairness share cash of the company.

The flooring value for the sale shall be INR 6,550 for each fairness share of the companyWabco India

Moreover, an solution to furthermore sell up to one.five lakh fairness shares symbolizing .seventy nine for each cent of the whole issued and compensated-up fairness share cash has been held in case of oversubscription, it included.

“The flooring value for the sale shall be INR 6,550 for each fairness share of the company,” it included.

At the flooring price ranges set, the whole worth of the proposed ‘offer for sale’ comes to INR 425.75 crore.

The company mentioned the sale will choose location above two buying and selling days with June 23 staying held for the non-retail investors and June 24 for retail investors and non-retail investors who pick out to carry ahead their bids.

A ‘retail investor’ would imply an particular person investor who spots bids for sale shares of the whole worth of not more than Rs 2 lakh, it mentioned.

Bare minimum ten for each cent of the sale shares would be reserved for retail investors subject matter to receipt of legitimate bids, it included.