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Home arrow News arrow Auto component arrow GS Auto International Ltd to raise funds for expansion and modernization
GS Auto International Ltd to raise funds for expansion and modernization Print E-mail
Written by Vijay   
Thursday, 26 November 2009
Mumbai: Auto component manufacturer, GS Auto International Ltd is set to raise long term funds for its future and ongoing expansion plans, as well as for the modernization and automation of its existing manufacturing units.

The company specializes in Suspension Components ( Machined, Forged and Cast )  for Commercial vehicles (LCVs,  MCVs and HCVs ) and passenger Cars. GS Auto supplies Components to various Indian OEMs including Telco, Ashok Leyland, Volvo, M&M, Delphi Automotive Systems, Maruti Udyog, Swaraj Mazda, Punjab Tractors, Eicher Motors and Hindustan Motors. The company also caters to the after-market segment.

It has a Casting unit ( Ferrous & non-Ferrous ), Forging facility ( Hot and Cold ), Machine shops for Forged Components & Drawn Components and heat & surface treatment facilities.

The board of directors of the company, today, accorded their approval to make preferential allotment of Forty Lac Warrants, to be convened into equivalent number of Equity Shares, to associates, promoters, Strategic investors and others on a preferential basis.

The investors would include G. J. Holdings Pvt. Ltd. (A Promoter Group Company) [12,00,000 Warrants], Harvin Exports Pvt. Ltd. [9,50,000 Warrants], Pioneer Power Towers Ltd. [11,50,000 Warrants], Disha Commercials (P) Ltd. [7,00,000 Warrants].

This is subject to approval by the company's shareholders in the Extra Ordinary General Meeting, which will be held on December 26, 2009.

 
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