REUTERS - German engineering conglomerate Siemens AG
Nearly 4 million shares of Siemens India unit, in which the parent has a 75 percent stake, are being sold to investors in the price band of 649.15 rupees to 698 rupees a share, according to the term sheet.
The stock ended at 698 rupees on Tuesday. Siemens AG's total stake in its Indian unit is valued at $3.2 billion at the current market price.
The share offering was launched on Tuesday and is expected to be completed by Wednesday, the term sheet said, adding HSBC
A spokesman for Siemens' India unit could not immediately be reached by Reuters for a comment.
(Reporting by Manoj Dharra and Abhishek Vishnoi; Writing by Sumeet Chatterjee; Editing by Greg Mahlich)