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

02 Dec 2024 CW Team

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.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..