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This is an archive article published on September 12, 2012

Siemens8217; shares fall ahead stake sale

Shares are sold to investors in the price band of Rs 649.15 rupees to Rs 698 a share.

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Shares in the Indian unit of Siemens fell as much as 3.7 per cent on Wednesday after the German engineering conglomerate is looking to sell a 1.2 per cent stake in a deal that could raise up to 50 million.

Nearly 4 million shares of Siemens India unit,in which the parent has a 75 per cent stake,are being sold to investors in the price band of Rs 649.15 rupees to Rs 698 a share,according to the term sheet.

As of 3.50 am,the Indian unit of Siemens was down 3 per cent at Rs 677.25.

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