Shares of Wabco India Ltd slipped nearly 10 per cent as the company’s two-day stake sale through an offer for sale (OFS) began today. The floor price for the offer has been fixed at Rs 5450 a share, an 11 per cent discount to Wednesday’s closing price of Rs 6101.90. The stock touched a low of Rs 5510 on the BSE on Thursday and declined as much as 9.7 per cent. At 12.36 PM, it was at Rs 5605.85, down 8 per cent from its previous close. Promoter ZF International UK Ltd will sell a 18.1 per cent stake in Wabco India Ltd via an offer for sale to raise nearly Rs 1,872 crore. The issue opened today for non-retail investors and will open for retail investors on Friday. The base issue size of the OFS is 9.10 per cent or over 1.72 million equity shares, with a green-shoe option to retain over-subscription of 9.10 per cent or over 1.72 million shares.

The sale is being undertaken by the seller, inter alia, for achieving the minimum public shareholding, the company said in its notice to exchanges.