Deutsche ups stake in ICSA (India) to 5.08 per cent

MUMBAI: Deutsche Securities Mauritius Ltd, along with its persons acting in concert, have increased their stake in ICSA (India) to 5.08 per cent through open market purchase.

ICSA (India) is a leading player in developing technology solutions for the power, oil, water and gas sectors to identify transmission and distribution (T&D) losses.

"The growing trust and belief in the company strengthens our resolve to grow by leaps and bounds," ICSA (India)'s Chairman and Managing Director Bala Reddy said in a statement issued here today.

Merrill Lynch, the Government of Singapore, UBS and Morgan Stanley, are among the existing stakeholders of the company.

Earlier this year, Goldman Sachs invested USD 46 million through FCCBs apart from acquiring 3,50,000 convertible warrants, the statement said.