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Deutsche increase stake in ICSA to 5.08%

This article was posted on Jun 23, 2008 and is filed under Press Releases

ICSA (India) Ltd, the fastest growing company in the power sector has witnessed the Foreign Institutional Firm Deutsche Securities Mauritius Limited, along with its Persons acting in concert, increased their stake in the company to 2237737 shares (5.08%) through open market purchase.

“The growing trust and belief in the company strengthens our resolve to grow by leans and bounds,” said Mr. Bala Reddy, CMD, ICSA (India) Ltd. Govt. of Singapore, UBS, Merrill Lynch, and Morgan Stanley are among the existing stakeholders of the company.Earlier this year Goldman Sachs invested $ 46 mn through FCCBs apart from acquiring 3,50,000 convertible warrants.

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