ABB India trades weak after stock turns ex-date for spin off

Shareholders of ABB India who are holding equity shares as on the record date are entitled for one equity of APPSIL for every five equity shares held in the Company.

ABB India shares dipped 4 per cent to Rs 1,280 on the BSE on Friday after the stock turned ex-date for spin off today.

The board of directors of ABB India has fixed "December 23, 2019" as the record date for determining the names of the equity shareholders of the Company to whom equity shares of ABB Power Products and Systems India Limited ("APPSlL"), would be issued and allotted.

As per the sanctioned scheme of arrangement between the Company and APPSIL, shareholders of the company who are holding equity shares as on the record date are entitled for