Automobile parts maker Amtek India is planning to raise up to Rs 200 crore by issuing non-convertible preference shares. In this regard, the company’s board at its meeting held on November 24, 2014, has considered and approved issuance of non-convertible preference shares up to Rs 200 crore.
Recently, the company reported 12.13 per cent increase in net profit at Rs 61.82 crore for the quarter ended September 30, compared with Rs 55.13 crore in the year-ago period. Net sales of the company stood at Rs 760.09 crore, up 36.15 per cent as against Rs 558.25 crore in the same quarter last year.
Amtek India, India’s largest iron casting company, is a majority owned subsidiary of Amtek Auto, the flagship company of the Amtek Group.
