Bosch Global Software Technologies Private Ltd has submitted to the Exchange a copy of Disclosure by acquirer for shares/ voting rights acquired during the offer period under Regulation 18(6) in terms of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Listed-company acquisitionOpen offer triggeredStrategic Transactions View source PDF Explain this filing

BOSCH-HCIL · price

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AI summary

Robert Bosch GmbH (Germany) has completed the acquisition of 100% of Johnson Controls-Hitachi Air Conditioning Holding (UK) Ltd from Hitachi and Johnson Controls for a total enterprise consideration of US$ 3.375 billion (about ₹28,000+ crore), with closing on 31 July 2025. Since this UK holdco indirectly owns 74.25% (about 2.02 crore shares) of Johnson Controls-Hitachi Air Conditioning India Limited, the listed Indian arm, Bosch has indirectly acquired a controlling stake in the Indian listed company. This change of control has triggered a mandatory open offer under SEBI Takeover Regulations for an additional 25.75% (70,00,355 shares) from public shareholders, first announced publicly on 26 July 2024. Bosch Global Software Technologies is being added as a person acting in concert (PAC) with the acquirer for the purposes of the open offer. The disclosure is filed to comply with Regulation 18(6), confirming no direct shares were acquired by the acquirer – the control change is entirely indirect through the UK holding chain.

Likely market impact

Public shareholders of Johnson Controls-Hitachi Air Conditioning India will get a tendering opportunity to exit at the open offer price once it is launched, which typically puts a floor under the stock and can cause sharp price moves around the offer window. For the listed stock, this marks a clear change of control from the Hitachi-Johnson Controls JV to the Bosch group, which may affect future strategy, capital allocation, and brand direction. For the broader Bosch ecosystem in India (including Bosch Home Comfort India), it signals a major expansion in the residential and commercial air-conditioning market.