ICSA (India) Ltd, one of the top runners in the mid cap segment has caught the attention of large investors like UBS Securities Asia Limited, Merrill Lynch & Morgan Stanley. The three entities have picked up 3.47 per cent (2,80,665 shares), 3.32 % (2,68,540 shares) and 1.83% (1,48,292 shares) respectively in ICSA (<?xml:namespace prefix = st1 />India).
“It is our privilege to get associated with international investment companies like these. This reasserts the confidence of investors in the long term growth of ICSA,” said Mr. G Bala Reddy, CMD, ICSA (India).
The move would help ICSA build further on its strengths for providing products to the global marketplace. “There is immense scope for embedded software products that provide solutions for power and gas supply networks,” added Mr. Reddy.
Early this year, Goldman Sachs, a global investment bank, invested $46 million through FCCBs apart from acquiring 3,50,000 Convertible warrants.
ICSA (India) has recently declared a final dividend of 38% on equity shares for the financial year 2006-07. It has also announced sub-division of its shares where in an equity share with a face value of Rs 10 each has been converted into 5 equity shares of face value of Rs 2 each.(Money Control)