ABB India Ltd to sell Turbocharger Business to subsidiary for Rs. 310 crores

The Board of Directors ("Board") of ABB India Ltd at its meeting held yesterday, i.e., December 21, 2021, have considered and approved the incorporation of a wholly owned subsidiary and sale of company's Turbocharger Business as a going concern, on a slump sale basis to its wholly owned subsidiary for a consideration of INR 310 crores ("Slump Sale"). The Slump Sale will be consummated by end of February, 2022.

Shares of ABB India Limited was last trading in BSE at Rs. 2204.10 as compared to the previous close of Rs. 2123.65. The total number of shares traded during the day was 118763 in over 3608 trades.

The stock hit an intraday high of Rs. 2215.00 and intraday low of 2091.00. The net turnover during the day was Rs. 256698869.00.

Source : Equity Bulls

Keywords

ABBIndia INE117A01022 SlumpSale TurbochargerBusiness