Small Business

Amtek Auto raises Rs 360cr from FCCBs

Delhi-based auto component player Amtek Auto announced today that the company has raised an additional $75 million (Rs 360 crore) through 5.625 per cent Foreign Currency Convertible Bonds (FCCB). - Cos raises over Rs 14,000 cr in upbeat mkt - Welspun-Gujarat Stahl Rohren to raise $150 mn - FCCBs regain currency; 4 firms raise $702 mn in four days - Welspun-Gujarat to raise $150 mn via FCCBs - Sesa Goa to raise Rs 6,000 cr for capex, acquisitions - Sesa Goa to raise Rs 2,400 cr via FCCB issue This has taken the total offer size of FCCB to $140 million with a further option of increasing the issue size to by an additional $35 million but not exceeding $175 million, the company clarified in a filing sent to the Bombay Stock Exchange (BSE). The company had earlier stated that it intends to utilise the proceeds from the FCCB to redeem/repay certain of its existing debts and will use any remaining balance for purpose permitted by applicable law. Shares of the company on the BSE were trading 0.20 per cent up at Rs 221.30 per share as compared to its yesterdays close of Rs 220.85 per share.

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