Wabco India hits 20% upper circuit on strong response to OFS

The promoter group intends to reduce its stake in WIL from 93.1 per cent to 75 per cent post the OFS

Shares of Wabco India were locked in upper circuit of 20 per cent at Rs 6,777.60 on the BSE in Friday's session after the promoter received a strong response for its offer-for-sale (OFS). The company informed the stock exchanges that it will exercise oversubscription option to the extent of 686,955 shares in addition to the base offer size.

The stock erased its entire previous day’s 7 per cent decline on the BSE. Till 09:30 am, a combined around 9,000 shares had changed hands on the counter and there were pending buy orders for around 70,000 shares on the NSE and