Honeywell Automation promoter offloads 6.24% stake
PTI: Dec 18 2012, 21:28 IST
Industrial solutions provider Honeywell Automation India today said its promoter Honeywell Asia Pacific Inc has sold 6.24 per cent stake in the company for an estimated Rs 130 crore.
In a filing to the BSE, the company said Honeywell Asia Pacific Inc has offloaded 5,51,333 equity shares on December 14 according to SEBI's directive to bring down promoters' holding to 75 per cent.
Post this transaction, Honeywell Asia Pacific Inc's stake in the Honeywell Automation India will come down to 75 per cent from 81.24 per cent, it added.
Although the company did not share financial details, as per the BSE closing share price of Rs 2,396.10 on December 14, the promoter is estimated to have received about Rs 130 crore
from the transaction.
Shares of Honeywell Automation India today closed trading at Rs 2,604.40 apiece, 6.50 per cent down, on the BSE.
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