Amtek Auto to acquire 100 pc equity stake in Amtek Siccardi

Mumbai, Mar 2 (UNI) The Board of Amtek Auto has decided to issue 53 lakh equity shares of Rs two each at a premium of Rs 308 per share aggregating Rs 164,30,00,000 to promoters of the company by way of preferential offer on firm allotment basis.

Further the board informed BSE that it has also decided to acquire 100 per cent equity stake in Amtek Siccardi (India).

The board will acquire 89.41 per cent equity stake in Benda Amtek, as a result of which the company will hold 96.63 per cent share of the target company.

UNI SN MJ AG1628