Amtek Auto, a Delhi-based auto component maker, plans to raise Rs 200 crore through a private placement issue of secured non convertible redeemable debentures. The funds raised will be deployed to replace its high-cost debt.
In September, the company raised Rs 360 crore through foreign currency convertible bonds (FCCB) to cut down debt as well as for expansion purposes.
The company has also raised private equity money from firms like ChrysCapital and Warburg Pincus. In 2006, Warburg Pincus picked up over 9% in the company for Rs 292 crore, while ChrysCapital picked up 7% stake for Rs 229 crore in 2008.