Singapore Investment Corporation increases stake in ICSA

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Mumbai, Oct 22 (UNI) ICSA (India), provider of embedded technology solutions for the power sector, today announced that Government of Singapore Investment Corporation Pvt Ltd along with its sub-accounts has increased its equity stake to 7.14 per cent in the Company.

The Investment Corporation had through open market purchased to the tune of 1,59,771 shares and their shareholding post acquisition of these shares stood at 33,31,930.

Recently, Goldman Sachs had acquired 17,50,000 equity shares in the Company by exercising their right of conversion for warrants held by them.

ICSA has posted a PAT of Rs 48.03 crore for the quarter ended September 30, 2008 as compared to Rs 28.88 crore for the quarter ended September 30, 2007, an increase of 66.31 per cent. Total Income had increased by 86.62 per cent to Rs 279.61 when compared with corresponding quarter of the previous year's Rs 149.83.

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