In a bid to comply with the minimum public shareholding norms as per SEBI, Industrial solutions provider Honeywell Automation India’s promoter Honeywell Asia Pacific Inc. has offloaded 6.24 per cent stake or 551,333 equity shares in the company for about Rs 130 crore.
Post the transaction, the promoter’s stake in the company will come down to the required level of 75% from 81.24%.
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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