Motilal Oswal Asset Management Company (AMC) has bought 1.53 lakh shares of Phoenix Lamps at an average price of Rs 132.16. Phoenix Lamps is undergoing a scheme of arrangement with Suprajit Engineering. Accordingly, shareholders of Phoneix Lamps will get four shares of Suprajit for every five shares held in the company.
Phoenix Lamps is the largest manufacturer of Automotive Lamps in India and caters to Indian OEMs, After Market and European Aftermarket segment.