Cummins India’s parent, Cummins Inc, is planning to increase stake in its Indian subsidiary to 75% from 51% via open offer. Cummins Inc, currently has annual free cash-flow of $1 billion. Meanwhile, as of June 13, 2013, while, promoters held 51% stake of the company, Institutional and Non-institutional investors held 35.69% and 13.31% of company's stake respectively.
Cummins Inc, the parent company of CIL, is engaged in design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. The company has customer presence in more than 160 countries through its network of 550 company-owned and independent distributor facilities and more than 5,000 dealer locations.
