Germany-based ZF group likely to sell upto 5% stake in ZF Commercial Vehicle for Rs 1,423 crore

According to the term sheet, the German firm is likely to sell at a floor price of Rs 14,980, a 13.3% discount to Tuesday’s closing price Rs 17,277.15. The deal is expected to fetch Rs 1,423 crore to the promoter . Citigroup is the banker to the deal.