Shares prices of Amtek Group companies - Amtek Auto, Metalyst Forgings and Castex Technologies rallied as much as 8-15 percent in morning trade Wednesday on a media report indicated that 21 investors showed interest to buy a stake in the debt-ridden Amtek Auto.
"The Delhi-headquartered automobile component maker has received expressions of interest (EoIs) from 21 investors, including Bain Capital, TPG Capital, DA Capital, Piramal Enterprises, AION Capital, Deccan Value Investors and Edelweiss Asset Reconstruction Company which will place financial bids over the next three months," the Business Standard said quoting a person familiar with the development.
A stake sale is one of the options for Amtek Auto's promoters to bring down the company’s Rs 13,000-crore debt, the report added.
Founder Arvind Dham and his family own a 52.4 percent stake in the company.
At 09:32 hours IST, the stock price of Amtek Auto was quoting at Rs 27.85, up 8.79 percent and Metalyst Forgings was at Rs 40.35, up 6.89 percent while Castex Technologies was at Rs 7.57, up 13.49 percent on the BSE.
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