Industrial solutions provider Honeywell Automation India today said its promoter Honeywell Asia Pacific Inc has sold 6.24 per cent stake in the company for an estimated Rs 130 crore.
In a filing to the BSE, the company said Honeywell Asia Pacific Inc has offloaded 5,51,333 equity shares on December 14 according to SEBI’s directive to bring down promoters’ holding to 75 per cent.
Post this transaction, Honeywell Asia Pacific Inc’s stake in the Honeywell Automation India will come down to 75 per cent from 81.24 per cent, it added.
Although the company did not share financial details, as per the BSE closing share price of Rs 2,396.10 on December 14, the promoter is estimated to have received about Rs 130 crore from the transaction.
Shares of Honeywell Automation India today closed trading at Rs 2,604.40 apiece, 6.50 per cent down, on the BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.