Deutsche ups stake in ICSA (India) to 5.08 %

ICSA (India) is a leading player in developing technology solutions for the power, oil, water and gas sectors to identify transmission and distribution (T&D) losses.

"The growing trust and belief in the company strengthens our resolve to grow by leaps and bounds," ICSA (India)'s Chairman and Managing Director, Bala Reddy, said, in a statement issued here today.

Merrill Lynch, the Government of Singapore, UBS and Morgan Stanley, are among the existing stakeholders of the company.

Earlier this year, Goldman Sachs invested $ 46 million through FCCBs apart from acquiring 3,50,000 convertible warrants, the statement said.