Amtek Auto, prompter group firm of Ahmednagar Forgings, has raised its stake in Ahmednagar Forgings to 67.77% from 59.88% by acquiring additional shares. The promoter group firm has acquired 18 lakh shares of Ahmednagar Forgings from two fund houses at an average Rs 104.18 apiece.
Copthall Mauritius Investments and Warhol sold 16.10 lakh shares and 1.90 lakh shares, respectively through block and bulk deals. As of December quarter, Amtek Auto held 54.96% stake in Ahmednagar Forgings.
Ahmednagar Forgings is a manufacturer of forging and machined automotive components, cold forged parts and high tensile fasteners. The company operates four plants; two of them are located at Ahmednagar, Maharashtra and the other two near Pune, Maharashtra.
Amtek Auto is engaged in manufacturing of various automotive machined and forged components such as case extensions, crankshaft assemblies, gear pinions, pivot arm, connecting rod assemblies etc.
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