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Warburg Pincus raises stake in Amtek India
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MUMBAI |
MUMBAI (Reuters) - Private equity firm Warburg Pincus has raised its stake in auto parts firm Amtek India Ltd to nearly 9.5 percent, sending the latter's shares up, two sources close to the deal said on Wednesday.
In a block deal on the Bombay Stock Exchange (BSE), Warburg bought 2.92 million shares, or 2.8 percent of the outstanding shares, for 204 rupees, the day's high, a company source and a trader said.
"They have indicated that they have raised their stake," an Amtek official who declined to be named said.
Warburg held 1.24 percent in Amtek India as on September 2007, the BSE data showed. However, it has steadily increased its stake through purchases in the open market.
A senior Amtek official declined comment and Warburg officials could not be reached.
Amtek India shares were trading 5.4 percent up at 193 rupees in afternoon trade in the Mumbai market that was up 1.2 percent.
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