+
ZF Sells 4.3% Stake in Indian Subsidiary for Rs 10.22 Bn
ECONOMY & POLICY

ZF Sells 4.3% Stake in Indian Subsidiary for Rs 10.22 Bn

German auto component supplier ZF Group divested a 4.32 per cent stake in its Indian subsidiary ZF Commercial Vehicles Control System (CVCS) India for Rs 10.22 billion, according to exchange data. According to the bulk deal data on the NSE, WABCO Asia, promoter and forming part of ZF Group sold a 4.3 per cent stake or 8.2 lakh shares of the company. The shares were offloaded at an average price of Rs 12,465.19 apiece, taking the transaction value to Rs 1,022.14 crore.

Meanwhile, Aditya Birla Sun Life Mutual Fund acquired 1.60 lakh shares of ZF CVCS India at an average price of Rs 12,400 per piece, taking the deal value to Rs 199.24 crore. Wabco Asia's holding in ZF CVCS India has come down to 63.17 per cent from 67.49 per cent. ZF Group in a filing to stock exchanges stated that it sold a 4.32 per cent stake in the Indian arm to increase financial flexibility for its growth.

The sale of shares has no effect on ZF's control of ZF CVCS India, as it is the long-term strategy of ZF to maintain its solid majority shareholding in the entity, the company said. "The world's 3rd largest automotive supplier has sold 8,20,000 shares, equalling 4.3 per cent stake, in its listed Indian subsidiary, ZF CVCS India, to increase liquidity and financial flexibility for its growth plans," it stated. The transaction will strengthen the financial flexibility of ZF, allowing it to invest in its further growth, and in the dynamically developing Indian market.

ZF CVCS India is the market leader in the Indian CV supplier industry and remains a very important pillar in ZF's global growth strategy, the company added. The Friedrichshafen (Germany)-headquartered firm commenced the commercial vehicle control system business in January 2022 following the acquisition of WABCO in 2020.

German auto component supplier ZF Group divested a 4.32 per cent stake in its Indian subsidiary ZF Commercial Vehicles Control System (CVCS) India for Rs 10.22 billion, according to exchange data. According to the bulk deal data on the NSE, WABCO Asia, promoter and forming part of ZF Group sold a 4.3 per cent stake or 8.2 lakh shares of the company. The shares were offloaded at an average price of Rs 12,465.19 apiece, taking the transaction value to Rs 1,022.14 crore. Meanwhile, Aditya Birla Sun Life Mutual Fund acquired 1.60 lakh shares of ZF CVCS India at an average price of Rs 12,400 per piece, taking the deal value to Rs 199.24 crore. Wabco Asia's holding in ZF CVCS India has come down to 63.17 per cent from 67.49 per cent. ZF Group in a filing to stock exchanges stated that it sold a 4.32 per cent stake in the Indian arm to increase financial flexibility for its growth. The sale of shares has no effect on ZF's control of ZF CVCS India, as it is the long-term strategy of ZF to maintain its solid majority shareholding in the entity, the company said. The world's 3rd largest automotive supplier has sold 8,20,000 shares, equalling 4.3 per cent stake, in its listed Indian subsidiary, ZF CVCS India, to increase liquidity and financial flexibility for its growth plans, it stated. The transaction will strengthen the financial flexibility of ZF, allowing it to invest in its further growth, and in the dynamically developing Indian market. ZF CVCS India is the market leader in the Indian CV supplier industry and remains a very important pillar in ZF's global growth strategy, the company added. The Friedrichshafen (Germany)-headquartered firm commenced the commercial vehicle control system business in January 2022 following the acquisition of WABCO in 2020.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?