Germany-based engineering and technology major Siemens AG is planning to increase its stake in the Indian subsidiary, Siemens Ltd, from the present 55.18 per cent to 75 per cent with an offer of 1 billion ($1.4 billion/Rs 6,215 crore).
The offer, announced this morning, triggered Siemens Ltd's share prices to rise 17.3 per cent on the Bombay Stock Exchange (BSE) to close at Rs 853.50 per share and touch a 52-week high of Rs 884.95 per share during intra-day trading.
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