Timken’s parent sells around 10%

Timken Singapore Pte Ltd, the parent Company of Timken India (TI) has sold a significant stake of TI.

  • It has sold 7.6 million shares in the open market
  • The consideration for the same is around Rs 2,361.89 crore i.e., abt Rs 3,100/ share which is 11% discount from the previous closing price
  • It’s stake has consequently declined to 57.7% from 67.8%

Divestment seems to be in the normal course and without any noticeable concerns. The parent continues to own majority stake in the Company.

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