Linde India’s UK-based parent company, The BOC Group, is planning to reduce stake in the company from the current 89.48% to comply with the Securities and Exchange Board of India (SEBI) norms on minimum public share holding requirements. In this regard, BOC UK has appointed Citigroup Global Markets India as the sole broker for the offer for sale (OFS).
The BOC Group proposes to sell a portion of its equity shares in the company through one or more OFS through stock exchanges to comply with the minimum public shareholding as per SEBI guidelines.
Linde India is engaged in manufacturing of industrial gases and undertaking engineering projects. The company owns one of the Asia’s largest air separation units. The company owns more than 20 manufacturing units, 40 warehouses and depots, 100 dealers and more than 100 dedicated tankers in the distribution fleet.
