Setco Automotive has received an approval for issue of securities including Equity Shares, convertible securities, etc. through public or private offerings including Qualified Intuitional Placement (QIP) for raising amount not exceeding Rs 100 crore, subject to the approval of the shareholders and other authorities. The board of directors at their meeting held on August 12, 2015 has approved for the same.
Setco Automotive is a premier manufacturer of clutch products for the Automotive and hydraulic products for Construction Equipment Industry.