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Amtek Group shares gain as board approves infusion of fresh capital by investors

Amtek Auto and Metalyst Forgings were up 7% each, while Castex Technologies up 8% on the BSE

SI Reporter  |  Mumbai 

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

Shares of Amtek Group companies Amtek Auto, and were trading higher by up to 8% on BSE after the board of these companies approved the infusion of fresh capital by investors and restructuring of the debt as proposed by the investors.

A joint board meeting of all the companies - Amtek Auto, Metalyst Forgings, and ARGL -  was subsequently held where the approval of individual board was adopted.


The joint board further approved the proposal relating to infusion of fresh capital by new investors, restructuring and reduction of debt subject to the approval of lenders.

It also approved the process of monetization to support the restructuring and debt reduction of the company, subject to regulatory approval.

Among the individual stocks, (Rs 42.85) and (Rs 73.85) were up 7% each, while up 8% at Rs 10.38 on the BSE. At 03:00 pm; the S&P BSE Sensex was up 1% or 271 points at 26,665.

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Amtek Group shares gain as board approves infusion of fresh capital by investors

Amtek Auto and Metalyst Forgings were up 7% each, while Castex Technologies up 8% on the BSE

Amtek Auto and Metalyst Forgings were up 7% each, while Castex Technologies up 8% on the BSE
Shares of Amtek Group companies Amtek Auto, and were trading higher by up to 8% on BSE after the board of these companies approved the infusion of fresh capital by investors and restructuring of the debt as proposed by the investors.

A joint board meeting of all the companies - Amtek Auto, Metalyst Forgings, and ARGL -  was subsequently held where the approval of individual board was adopted.

The joint board further approved the proposal relating to infusion of fresh capital by new investors, restructuring and reduction of debt subject to the approval of lenders.

It also approved the process of monetization to support the restructuring and debt reduction of the company, subject to regulatory approval.

Among the individual stocks, (Rs 42.85) and (Rs 73.85) were up 7% each, while up 8% at Rs 10.38 on the BSE. At 03:00 pm; the S&P BSE Sensex was up 1% or 271 points at 26,665.

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Business Standard
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Amtek Group shares gain as board approves infusion of fresh capital by investors

Amtek Auto and Metalyst Forgings were up 7% each, while Castex Technologies up 8% on the BSE

Shares of Amtek Group companies Amtek Auto, and were trading higher by up to 8% on BSE after the board of these companies approved the infusion of fresh capital by investors and restructuring of the debt as proposed by the investors.

A joint board meeting of all the companies - Amtek Auto, Metalyst Forgings, and ARGL -  was subsequently held where the approval of individual board was adopted.

The joint board further approved the proposal relating to infusion of fresh capital by new investors, restructuring and reduction of debt subject to the approval of lenders.

It also approved the process of monetization to support the restructuring and debt reduction of the company, subject to regulatory approval.

Among the individual stocks, (Rs 42.85) and (Rs 73.85) were up 7% each, while up 8% at Rs 10.38 on the BSE. At 03:00 pm; the S&P BSE Sensex was up 1% or 271 points at 26,665.

image
Business Standard
177 22