Amtek Auto witnessed a rise in share price on Wednesday after the company, is planning to raise Rs 1.17 billion by issuing equity shares to promoters on a preferential basis.
The company has called an EGM (extraordinary general meeting) on March 25, 2017, to get approval from its shareholders for the proposal.
The company is likely to issue maximum of 2.35 crore equity share at a price of Rs 50 a share including premium of Rs 48 aggregating to Rs 1.17 billion.
Shares of Amtek Auto are trading at Rs 39.10, up Rs 1.05, or 2.76% at the Bombay Stock Exchange (BSE) on Wednesday at 11:20 a.m.
The scrip has touched an intra-day high of Rs 40.30 and low of Rs 38.80. The total volume of shares traded at the BSE is 571,509.
Total volume of shares traded on the bourses today was lower by 2.90% to 3,215,418 compared with 22-day average volume of 3,311,292.