India: Amtek Auto to raise US$250m

摘要

AUTOMOTIVE components supplier Amtek Auto has decided to raise US$250m through issue of foreign currency convertible bonds (FCCB) or any other securities in the international market. The money will be used for its ambitious growth plans. The extraordinary general meeting (EGM) of shareholders granted permission to the board to raise the amount through the issue of FCCBs, GDRs, ADRs, equity shares, warrants or other securities, the company informed the Bombay Stock Exchange. The EGM also decided to increase the borrowing limit to Rs30bn (US$654.37m) from the current level of Rs20bn. It also approved increasing the company's authorised share capital to Rs800m (US$17.41m) from Rs700m (US$15.23m).