Through the OFS, the company's promoter ZF International UK offered to sell up to 17,17,388 equity shares (representing 9.05% stake).

The floor price for the OFS was set at Rs 5450 per equity share, a 10.68% discount to Wabco India's closing price of Rs 6101.90 on Wednesday, 24 March 2021.

ZF International UK held 18.1% stake in the company as on 31 December 2020.

The OFS opened on Thursday (25 March 2021) for non-retail investors, while both retail as well as non-retail investors were allowed to subscribe on Friday (26 March 2021). A total of 10% of the total offer size is reserved for retail investors.

On Thursday (T-day), the OFS received subscription for 72,54,418 shares. It was subscribed 469.34% on the base non-retail offer size of 15,45,649 shares.

Following the strong response on T-day, the company's promoter decided to exercise the oversubscription option of 6,86,955 shares (3.62% equity) in addition to the base offer.

Accordingly, the final share sale was 24,04,343 shares, constituting 12.68% of the paid-up equity share capital of Wabco India.

ZF International UK had previously stated that it would sell an additional 9.05% stake or 17,17,387 equity shares of the company in case of oversubscription, taking the total share sale to 34,34,775 shares, representing 18.1% of outstanding equity shares of the company.

As on 15:30 IST on Friday (T+1 day), the OFS received total bids for 6,29,669 shares or 366.64% of the base retail offer size of 1,71,739 shares.

The retail segment received bids for 2,72,749 shares or 158.82% of the base retail offer size. The non-retail segment received bids for 3,56,920 shares or 207.83% of the base retail offer size.

On the enhanced retail offer size of 2,40,435 shares, the OFS was subscribed 261.89% on Friday.

Wabco India manufactures automotive parts. The company produces electronic braking, stability, and suspension and transmission control systems for heavy-duty commercial trucks, trailers and buses.

The company's standalone net profit jumped 35.48% to Rs 52.43 crore on a 28.47% increase in net sales to Rs 566.50 crore in Q3 FY21 over Q3 FY20.