PE-backed Amtek sells 5% stake in subsidiary
Auto component maker Amtek Auto, which is backed by Warburg Pincus and ChrysCapital, has sold a 5% stake in its subsidiary Amtek Crankshafts (India) to an unnamed foreign investor for INR223 million ($4.1 million).
The deal values the unit at INR4.4 billion with around 746 million shares being sold at INR300 apiece, according to a regulatory filing. Set up in 1997, Gurgaon-based Amtek Crankshaft manufactures automotive...
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