The Hindu Business Line : Omax Autos promoters to divest 18% stake

THE promoters of Omax Autos Ltd are planning to divest approximately 18 per cent stake (20,00,000 shares), from their collective holding of 57.45 per cent of the paid up equity capital of the company in the open market.

At present, public holds about 35.37 per cent.

Following a communiqué to the National Stock Exchange today in this regard, the company's share price went up 9.75 per cent to Rs 93.95 on the Bombay Stock Exchange.

The Rs 427-crore Omax Autos is in the business of auto ancillaries.

It supplies auto components to companies such as Hero Honda, Maruti, Sundaram Clayton, and TVS Motors.

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