Wabco India surges over 18% as OFS for retail investors opens today

Our Bureau Mumbai | Updated on March 26, 2021

Wabco India erased previous sessions losses to surge over 18 per cent on Friday as the offer for sale by the promoter begins today for retail investors.

At 11:30 am, Wabco was trading at ₹6,685.75 on the BSE, up ₹1,037.75 or 18.37 per cent. It hit an intraday high of ₹6,777.60 and an intraday low of ₹6,562.05. It opened at ₹6777.60 as against the previous close of ₹5,648.00.

On the NSE, it was trading at ₹6,714.15, up ₹1,070.95 or 18.98 per cent.

The company on March 24 announced that ZF International UK, one of the members of its promoters, will sell 17,17,388 equity shares, or 9.05 per cent stake, in Wabco India through an offer-for-sale on March 25-26.

The company will offer an oversubscription option in the offer to the extent of 6,86,955 Equity Shares (representing 3.62 per cent of the total issued and paid-up Equity Share capital of the company) in addition to 1,717,388 equity shares forming part of the Base Offer Size, it said in a regulatory filing.

Accordingly, the aggregate number of Sale Shares will be up to 24,04,343 Equity Shares (representing 12.68 per cent of the total issued and paid-up Equity Share capital of the Company), it said.

The floor price for the sale is fixed at ₹5,450 per share.

Published on March 26, 2021

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