ZF Group sells 4.3% stake in Indian subsidiary for Rs 10 Bn

02 Dec 2024 CW Team

German auto component supplier ZF Group announced on Wednesday that it had divested a 4.32% stake in its Indian subsidiary, ZF Commercial Vehicles Control System (CVCS) India, for INR 10 billion. Based on exchange data, it was reported that WABCO Asia Pvt Ltd, part of ZF Group, sold 8.2 lakh shares, equivalent to a 4.3% stake, at an average price of INR 12,465.19 per share. Simultaneously, Aditya Birla Sun Life Mutual Fund was said to have purchased 1.6 lakh shares of ZF CVCS India at an average price of INR 12,400 per share, amounting to INR 199.24 crore.

WABCO Asia's shareholding in ZF CVCS India was noted to have decreased from 67.49% to 63.17% following the transaction. In its filing to stock exchanges, ZF Group explained that the sale aimed to enhance financial flexibility to support its growth plans. The company emphasised that the transaction would not affect its control over ZF CVCS India, reaffirming its long-term strategy to retain a solid majority shareholding in the subsidiary.

ZF Group also stated that the divestment, involving the sale of 8.2 lakh shares, was intended to increase liquidity and provide the financial resources needed for further growth, particularly in the rapidly evolving Indian market. ZF CVCS India, described as a market leader in the country’s commercial vehicle supplier sector, was highlighted as a crucial element of ZF’s global expansion strategy.

The Friedrichshafen-headquartered firm noted that it had entered the commercial vehicle control system business in January 2022, following its acquisition of WABCO in 2020. The transaction was portrayed as a move to strengthen ZF’s financial position while enabling continued investment in both the company’s growth and the dynamically developing Indian market.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..