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Amtek stock up 8% on fresh equity investment proposal

Amtek Auto's consolidated debt stood at Rs 14,500 crore as of March 2016

Ajay Modi  |  New Delhi 

amtek
Amtek Auto logo

Delhi-based auto component maker Amtek Auto’s price surged nearly eight per cent after the ridden company said its board has approved proposals from overseas investors to infuse fresh capital.

These investors, the company said will also invest in other group companies like Metalyst Forgings and Castex Technologies. A join board meet of all companies was held today.

“The proposed plan also envisages a broader corporate restructuring involving the consolidation of the domestic business and the ongoing asset monetisation to support the proposed plan,” the company said. At 3 pm, the price of Amtek Group’s flagship company was up 7 per cent at Rs 42.90 on the BSE.

The company said details of the infusion and the restricting of as well as corporate restructuring shall be shared after it receives approval from lenders and shareholders. Amtek Auto’s consolidated stood at Rs 14,500 crore as of March 2016. A company spokesperson said the will go down ‘significantly’ post these exercises. 

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Amtek stock up 8% on fresh equity investment proposal

Amtek Auto's consolidated debt stood at Rs 14,500 crore as of March 2016

Amtek Auto's consolidated debt stood at Rs 14,500 crore as of March 2016
Delhi-based auto component maker Amtek Auto’s price surged nearly eight per cent after the ridden company said its board has approved proposals from overseas investors to infuse fresh capital.

These investors, the company said will also invest in other group companies like Metalyst Forgings and Castex Technologies. A join board meet of all companies was held today.

“The proposed plan also envisages a broader corporate restructuring involving the consolidation of the domestic business and the ongoing asset monetisation to support the proposed plan,” the company said. At 3 pm, the price of Amtek Group’s flagship company was up 7 per cent at Rs 42.90 on the BSE.

The company said details of the infusion and the restricting of as well as corporate restructuring shall be shared after it receives approval from lenders and shareholders. Amtek Auto’s consolidated stood at Rs 14,500 crore as of March 2016. A company spokesperson said the will go down ‘significantly’ post these exercises. 
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Business Standard
177 22

Amtek stock up 8% on fresh equity investment proposal

Amtek Auto's consolidated debt stood at Rs 14,500 crore as of March 2016

Delhi-based auto component maker Amtek Auto’s price surged nearly eight per cent after the ridden company said its board has approved proposals from overseas investors to infuse fresh capital.

These investors, the company said will also invest in other group companies like Metalyst Forgings and Castex Technologies. A join board meet of all companies was held today.

“The proposed plan also envisages a broader corporate restructuring involving the consolidation of the domestic business and the ongoing asset monetisation to support the proposed plan,” the company said. At 3 pm, the price of Amtek Group’s flagship company was up 7 per cent at Rs 42.90 on the BSE.

The company said details of the infusion and the restricting of as well as corporate restructuring shall be shared after it receives approval from lenders and shareholders. Amtek Auto’s consolidated stood at Rs 14,500 crore as of March 2016. A company spokesperson said the will go down ‘significantly’ post these exercises. 

image
Business Standard
177 22

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