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 Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..