Amtek India plans to raise Rs 600 crore via pvt placement of NCDs

NEW DELHI: Auto components maker Amtek India Ltd plans to raise Rs 600 crore by issuing redeemable non- convertible debentures (NCDs) on private placement basis.

The company's board in its meeting held today approved the proposal to issue redeemable NCDs up to Rs 600 crore on private placement basis subject to shareholders and other regulatory approvals, Amtek India said in a filing to BSE.

In the quarter ended December 2014, the company had a net profit of Rs 54.92 crore with a revenue of Rs 821.41 crore.

The company is a leading supplier of iron cast automotive components in India. Its product portfolio consists of a range of components for two and three-wheelers, cars, tractors, light commercial vehicles, heavy commercial vehicles and stationary engines.

Shares of Amtek India Ltd closed ended the day Rs 95 per scrip, up 1.82 per cent from the previous close on the BSE.