Siemens India shares fall ahead of $50 million stake sale
Reuters | Updated On: September 12, 2012 09:53 (IST)
Shares in the Indian unit of Siemens fell as much as 3.7 per cent on Wednesday after the German engineering conglomerate is looking to sell a 1.2 per cent stake in a deal that could raise up to $50 million.
Nearly 4 million shares of Siemens India unit, in which the parent has a 75 per cent stake, are being sold to investors in the price band of Rs 649.15 to Rs 698 a share, according to the term sheet seen by Reuters on Tuesday.
Shares in Siemens India were last down 3 per cent at Rs 677.25.
Copyright Thomson Reuters 2012
|For Profit Update,