Alstom T&D to sell 42k shares to meet public holding norms

Alstom T&D India today said that market regulator Sebi has allowed it to sell 42,565 shares to maintain the minimum public shareholding requirement.
Sebi has allowed promoters of Alstom T&D India sell up to 42,565 equity shares on floor of stock exchanges to comply with minimum public shareholding requirement, the company said in a BSE filing.
According to the statement, US-based General Electric Co along with its associates hold 75.0166 per cent of fully paid up share capital of the firm, which exceeds the minimum pubic shareholding threshold.
Earlier, GE's Rs 1,926-crore open offer to acquire 6.4 crore publicly held shares in Alstom T&D India had elicited a poor response, with just 43,439 shares getting tendered.

GE accepted offer for 42,570 equity shares for Rs 1.28 crore under its open offer, Alstom T&D India had said in a regulatory filing.
Post offer, GE acquired 0.02 per cent of the equity, while it planned to take over 25 per cent stake through the open offer.
The offer opened on January 18, 2016 and closed on February 1, 2016. The date of payment of consideration was February 15.