Warburg Pincus raises stake in Amtek India
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.
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
PLAYBOY SALE
An icon bows to changing times
With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech. Full Article
India
US
UK
