GE Power sells complete investment in Alstom Systems India to Alstom Transport SA; Stock slumps 5%

11 Feb 2022 , 09:32 AM

GE Power India Limited has sold its complete investment of 26,65,000 equity shares having a face value of Rs10 in Alstom Systems India Private Limited to Alstom Transport SA (not a related party) at an all-inclusive consideration of Rs2,66,50,000, equivalent to a face value of Rs10 per Equity Share.

“The Board of Directors took note of the aforesaid sale of investment in its meeting held on February 9, 2022, pursuant to the letter received by the company from Alstom Systems India Private Limited dated February 9, 2022, informing completion of the aforesaid transaction,” company said in a regulatory filing on Thursday.

At around 9.35 AM, GE Power India Ltd was trading at Rs179.95 per share down by Rs10.7 or 5.61% from its previous closing of Rs190.65 per share on the BSE.

The scrip opened at Rs172.65 and has touched a high and low of Rs185 and Rs172 respectively.