ABB Power offer price valuation assessed by SEBI

The (SEBI) Securities and Exchange Board of India is examining whether the price offered to minority shareholders as well as the valuation is fair, and whether it needs to be revised, says one of the two people who filed the complaint. An official said, “SEBI is examining whether there is a need to appoint an independent valuer.” 

The (SEBI) Securities and Exchange Board of India is examining whether the price offered to minority shareholders as well as the valuation is fair, and whether it needs to be revised. The person said, “SEBI is examining whether there is a need to appoint an independent valuer.” 

ABB Power Products and Systems India Ltd.’s plan to buyback shares through an open offer price, which has attracted the inspection of the markets regulator, after complaints by a section of minority shareholders, said two people with direct knowledge of the matter.

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ABB, in an emailed response, said, “SEBI is conducting its routine review as customary prior to granting clearance. ABB remains in close dialogue with the regulator on the matter.” 

In June, mandatory open offer was announced jointly by parent company ABB Group and Hitachi for gaining 25% of the public shareholding of ABB Power at ₹865.92 a piece.