Deutsche increases stake in ICSA (India) to 7.16%

ICSA (India) Ltd, the fastest growing company in the power sector has announced that Deutsche Securities Mauritius Limited, along with its Persons acting in concert, increased their stake in ICSA from 2237737 shares (5.08%) to 3150255 shares (7.16%) through open market purchases.

In June 2008, Deutsche Securities Mauritius Limited had increased its stake in the company to 2237737 shares (5.08%) through open market purchase.

"The growing trust and belief in the company strengthens our resolve to grow by leans and bounds" said Mr. Bala Reddy, CMD, ICSA (India) Ltd

Swiss Finance Corporation, Abu Dhabi Investment Authority, Government of Singapore, Goldman Sachs, Merrill Lynch & Morgan Stanley are among the existing stakeholders of the company. Earlier this year Goldman Sachs invested $ 46 mn through FCCBs apart from acquiring 3,50,000 convertible warrants. 

Sourced From: Concept Public Relations India Pvt. Ltd