Amtek India plans to raise Rs 600 cr via NCDs

Auto components maker Amtek India Ltd plans to raise Rs 600 crore by issuing redeemable non-convertible debentures (NCDs) on private placement basis.

The company's board in its meeting held on Thursday approved the proposal to issue redeemable NCDs up to Rs 600 crore on private placement basis subject to shareholders and other regulatory approvals, Amtek India said in a filing to BSE.

In the quarter ended December 2014, the company had a net profit of Rs 54.92 crore with a revenue of Rs 821.41 crore.    

The company is a leading supplier of iron cast automotive components in India. Its product portfolio consists of a range of components for two and three-wheelers, cars, tractors, light commercial vehicles, heavy commercial vehicles and stationary engines.