Moneycontrol
Nov 30, 2016 04:02 PM IST | Source: CNBC-TV18

Fresh infusion to help debt reduction: Amtek Auto

The investors has made a significant investment in the group, said John Flintham, Vice Chairman of Amtek Auto. The company did not disclose name of the investor.

Amtek Auto’s board has approved infusion of fresh capital and restructuring of debt of the company.

The investors has made a significant investment in the group, said John Flintham, Vice Chairman of Amtek Auto. The company did not disclose name of the investor.

Investment infusion and asset monetisation programme, Flintham said, will help reduce the debt. In an earlier interview Flintham had said that the company plans to pare its debt by two-thirds over next 2-3 years.

The company’s consolidated debt stands at Rs 14,800 crore.

Flintham said that sale of its subsidiary – Neumayot Trekfor – will take some time.

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