HAIL’s arm Honeywell Asia Pacific to offload 6.24% in the company

14 Dec 2012 Evaluate

Honeywell Automation of India’s (HAIL) multinational arm, Honeywell Asia Pacific Inc is likely to sell about 6.24% of its holding in its Indian-arm on December 14, 2012 by way of offer for sale (OFS) route to meet the minimum public shareholding requirement.

Honeywell, which holds 81.24% stake in the company, will sell 551,333 shares of HAIL at a floor price of Rs 2,150 per share. After this transaction, which comprises of 6.24% stake in the company, the promoter holding in the company will come down to 75%.

Honeywell Automation India is a leading provider of integrated automation and software solutions that improve productivity enhance comfort and ensure safety and security of homes and business premises.

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