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Amtek Auto touches the roof on stake sale buzz

21 Jun 2017 Evaluate

Amtek Auto is currently trading at its upper circuit limit of Rs. 28.15, up by 2.55 points or 9.96% from its previous closing of Rs. 25.60 on the BSE.

The scrip opened at Rs. 26.65 and has touched a high and low of Rs. 28.15 and Rs. 26.50 respectively. So far 1859464 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 56.20 on 26-Jul-2016 and a 52 week low of Rs. 21.25 on 20-Jun-2017.

Last one week high and low of the scrip stood at Rs. 34.00 and Rs. 21.25 respectively. The current market cap of the company is Rs. 698.84 crore.

The promoters holding in the company stood at 52.40%, while institutions and non-institutions held 9.59% and 38.01% respectively.

Amtek Auto has reportedly received expressions of interest from 21 investors, including asset reconstruction companies. Bain Capital, TPG Capital, DA Capital, and Piramal Enterprises all are planning to buy a stake in the debt-ridden Amtek Auto.

A stake sale is one of the options for Amtek Auto’s promoters to bring down the company’s Rs 13,000 crore debt. Founder Arvind Dham and his family own a 52.4 per cent stake in the company.

Peers
Company Name CMP
AIA Engineering 3970.80
Alicon Castalloy 745.25
Nelcast 160.00
Steelcast 287.55
Synergy Green Inds. 581.55
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