Wabco India - A Quality Franchise: ICICI Direct
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ICICI Direct Report
ZF International UK i.e. the principal shareholder (promoter group) of Wabco India Ltd. proposes to sell up to 34.34 lakh shares or 18.1% stake (including green-shoe option) in Wabco India to comply with minimum public shareholding norms.
The promoter group intend is to reduce its stake in the company from 93.1% to 75% post offer-for-sale (OFS).
It has set a floor price of Rs 5,450 per share in the proposed OFS with allocation in OFS on price priority basis. The minimum issue size thus stands at Rs1,872 crore.
The offer will open on March 25, 2021 for non-retail category and on March 26, 2021 for retail category -with a minimum of 10% of the shares being reserved for retail category.
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