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Siemens AG sells nearly 48% stake in Siemens Ltd for Rs 18,237 cr

Siemens Aktiengesellschaft is the parent company of Siemens Ltd, which is listed in India

Photo: Reuters
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Shares of Siemens Ltd on Tuesday closed 1.68 per cent higher at Rs 1,101.4 on the BSE. Photo: Reuters

Press Trust of India New Delhi
German conglomerate Siemens Aktiengesellschaft, promoter of Siemens Ltd, on Tuesday offloaded about 47.7 per cent stake in the company, amounting to nearly Rs 18,237 crore, through open market transactions.

Siemens Aktiengesellschaft is the parent company of Siemens Ltd, which is listed in India. As per the block deal data on BSE, Siemens Aktiengesellschaft sold a total of over 16.98 crore shares of its Indian subsidiary at a price of Rs 1,073.5 per scrip.

The total deal value stood at Rs 18,236.93 crore. Through a separate deal, Siemens International Holding BV picked up these shares at the same price.

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First Published: Jun 23 2020 | 9:05 PM IST

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