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ABB India Limited ( (IN:ABB) ) has issued an update.
ABB India Limited has approved a restructuring of its robotics operations in line with the global ABB group’s previously announced spin-off and divestment of its robotics business to SoftBank Group. The company has incorporated a wholly owned subsidiary, ABB Robotics India Private Limited (INRBT), and its board has cleared the sale of ABB India’s shareholding in INRBT to ABB Robotics Schweiz AG for Rs 1 lakh plus related expenses, followed by the transfer of ABB India’s robotics business to INRBT on a slump sale basis for at least Rs 1,568.2 crore, subject to shareholder approval via a postal ballot for the material related-party transaction. This move realigns the ownership of the Indian robotics business with ABB’s global robotics structure and the planned divestment, potentially reshaping ABB India’s portfolio mix and revenue composition while clarifying the corporate positioning of its robotics operations within the wider ABB and SoftBank ecosystem.
More about ABB India Limited
ABB India Limited operates in the industrial technology and engineering sector, providing electrical equipment, automation solutions, and robotics systems to industrial and infrastructure customers in India. The company functions as part of the global ABB group, aligning its portfolio with ABB’s international businesses, including robotics and discrete automation offerings targeted at manufacturing and other industrial applications.
Average Trading Volume: 8,303
Technical Sentiment Signal: Hold
Current Market Cap: 994.2B INR
See more data about ABB stock on TipRanks’ Stock Analysis page.