Amtek India to raise up to Rs 200 cr

Automobile parts maker Amtek India today said it will raise up to Rs 200 crore by issuing non-convertible preference shares.

"Board of Directors of the company at its meeting held on November 24, 2014, have considered and approved issuance of non-convertible preference shares up to Rs 200 crore," Amtek India said in a BSE filing.

The company today reported 12.13 percent increase in net profit at Rs 61.82 crore for the quarter ended September 30, compared with Rs 55.13 crore in the year-ago period. Net sales of the company stood at Rs 760.09 crore, up 36.15 percent as against Rs 558.25 crore in the same quarter last year.

The company's Board has also recommended dividend of Rs 0.10 per equity share of Rs 2 each for the financial year 2013-14.

Amtek India said its Board's recommendations are subject to approval of shareholders in the forthcoming Annual General Meeting, the company added. The company's scrip closed at Rs 91.90, up 3.26 percent, on the BSE.