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ABB India Limited — Capital/Financing Update 2021
Jun 11, 2021
60284_rns_2021-06-11_1e814f0f-f0c7-41ca-8e64-216d4d729dd7.pdf
Capital/Financing Update
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REF:INABB:STATUT:LODR:REGU 30:
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June 11, 2021
BSE Limited National Stock Exchange of India Limited P.J. Towers Exchange Plaza, 5[th] floor Dalal Street Plot No. C/1, G Block Mumbai 400 001 Bandra-Kurla Complex, Bandra (E) Mumbai 400 051
Attn: Listing Dept.
Dear Sir
Sub: Disclosure of information as per Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) Ref: BSE - 500002 / NSE - ABB
The Board of Directors of the Company at its special meeting held today discussed the following proposals:
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to divest/sale of Turbocharger business in Process Automation business segment;
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to divest/sale of Dodge Mechanical Power Transmission business in Motion business segment.
Following such discussions, the Board granted in-principle approval for divestment/sale of Company’s Turbocharger and Dodge Mechanical Power Transmission businesses. In this regard, the Board authorized the management of the Company to take all required steps including appointment of advisors, valuers etc.
The Board’s decision to review India businesses for potential divestment is in line with ABB Group’s already announced ongoing systematic portfolio restructuring to strengthen competitiveness, focus on quality of revenue and higher growth segments.
The Board will consider the proposal in detail before making a final decision and the Company will make appropriate disclosures to the Stock Exchanges once the Board has taken a final decision in this regard.
We request you to take this on record.
Thanking you
For ABB India Limited
Digitally signed by TYAGAVALLI KRISHNASWAMY SRIDHAR DN: cn=TYAGAVALLI KRISHNASWAMY SRIDHAR, c=IN, o=Personal, email=[email protected] Date: 2021.06.11 17:08:34 +05'30'
T K Sridhar Chief Financial Officer
ABB India Limited Registered Office Plot No. 5 & 6, 2nd Stage Peenya Industrial Area IV Peenya, Bengaluru – 560 058 Karnataka, India
CIN: L32202KA1949PLC032923 GST: 29AAACA3834B1Z4
Phone: +91 80 22949150 – 54 Fax: +91 80 2294 9148