MUMBAI (Reuters) - Global truck maker Volvo is looking to sell $250 million worth of shares in Eicher Motors, with an option to increase the sale to up to $300 million, according to a term sheet seen by Reuters on Tuesday.
The shares sale is happening at an indicative range of 14,636-15,907 rupees per share, according to the document.
Eicher shares closed down 3.2 percent at 15,907.95 rupees on Tuesday, ahead of the sale.
Volvo currently owns an 8.4 percent stake in the company via unit Aktiebolaget Volvo, BSE data shows.
(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app