Grid Equipments Private Limited and GE Grid Alliance B.V., announced plans to sell a significant stake. The Offer for Sale (OFS) includes up to 30 million shares, representing an 8.38% stake, with an option to sell an additional 10 million shares (3.9%) if oversubscribed.
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GE Vernova T&D India Shares Plunge on Promoter Stake Sale

  • Promoter Stake Sale: GE Vernova T&D India’s promoter, Grid Equipments, plans to sell up to 8.38% of its stake in the company through an offer for sale (OFS).
  • Market Reaction: The announcement triggered a sharp decline in the stock price, leading to a 5% lower circuit limit on the stock exchanges.
  • GE Vernova T&D India shares were 5% lower circuit at ₹1,606.85 after its promoters.
  • Grid Equipments Private Limited and GE Grid Alliance B.V., announced plans to sell a significant stake. The Offer for Sale (OFS) includes up to 30 million shares, representing an 8.38% stake, with an option to sell an additional 10 million shares (3.9%) if oversubscribed.