ABB India has received an approval for the proposal to sell the 31,49,99,999 equity shares held by the company in Turbocharging Industries and Services India (TISIPL) to Turbo Systems Switzerland (TSSL), an indirect wholly owned subsidiary of ABB on such terms and conditions as approved by the Board. The share transfer agreement is yet to be executed. The company expects to complete the sale of equity shares by end of September 30, 2022. The Board of the Company on August 9, 2022, have approved the same.
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