Timken India parent to sell 6.6% stake worth Rs 1,700 crore via block deal tomorrow

Foreign parent Timken Singapore is likely to sell a 6.6% stake in the company via a block deal tomorrow, news channel CNBC-TV18 reported quoting sources

Shares of Timken India will be in focus tomorrow, May 28 as its foreign parent Timken Singapore is likely to sell a 6.6% stake in the company via a block deal tomorrow, news channel CNBC-TV18 reported quoting sources. The block deal could be worth $213 million or nearly Rs 1,700 crore, according to the report. The floor price of the Timken India block deal is set around Rs 3,550 per share, according to the report.
On May 27, Timken India share price ended at Rs 3,951.50, down 4.5% on the NSE.

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