Amtek Auto Ltd to raise funds

The Board of Directors of Amtek Auto Ltd at its meeting held on May 16, 2014, has decided the issuance of equity shares through a Qualified Institutional Placement ("QIPs") and/or Global Depository Receipts and/or American Depository Receipt and/or other securities convertible into equity shares and/or such other equity-linked instruments.

The Board also approved proposal to increase the Authorized Share Capital of the Company and consequential alternations of Memorandum and Articles of Association of the Company.

The decisions of the board at serial nos. 1 and 2 above, are subject to the approval of shareholders of the Company and the Company will, in this regard, call an extraordinary general meeting of its shareholders.

Shares of AMTEK AUTO LTD. was last trading in BSE at Rs.197.5 as compared to the previous close of Rs. 187.85. The total number of shares traded during the day was 416977 in over 9885 trades.

The stock hit an intraday high of Rs. 201.95 and intraday low of 189. The net turnover during the day was Rs. 82765636.

Source : Equity Bulls

Keywords