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Siemens AG sells Siemens Ltd shares worth over Rs 8,520 cr

Business Finance

Press Trust of India  |  New Delhi 

Siemens Aktiengesellschaft on Tuesday sold more than 8 crore shares of Siemens Ltd to its subsidiary Siemens Gas and Power Holding BV.

Siemens Aktiengesellschaft is the parent company of Siemens Ltd.

Siemens Ltd is listed in India.

According to the block deal data available on the BSE, Siemens Aktiengesellschaft sold 8,54,68,862 shares of the company at an average price of Rs 996.9 apiece.

At this price, the transaction is valued at Rs 8,520 crore.

As of March 2020, Siemens AG held 71.70 per cent stake in Siemens Ltd.

Shares of Siemens on Tuesday closed 2.53 per cent higher at Rs 1,022.10 on the BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 19 2020. 20:19 IST