Amtek India raising $130 mn via FCCBs for capacity expansion

Amtek India Ltd, part of the auto parts maker Amtek Group, is raising $130 million through foreign currency convertible bonds (FCCBs), the third time an Indian company has opted for this mode of funding in 2012.

The funds raised will be used to expand capacity for casting components for non-auto sectors and increasing machining capacity.

The company is also scouting for couple of acquisitions-one in the domestic and another in the overseas market, The overseas deal will be finalized in another three-six months.