PTI

Mumbai: Foreign fund house Merrill Lynch Capital said on 10 December it has offloaded its stake in auto ancillary company Autoline Industries, bringing it down to 2.66%, at about Rs1.65 crore.

Merrill Lynch Capital Mkt Espana SA SV has sold 95,000 shares amounting to 0.92% in the firm on 6 December, through open market transaction, Autoline said in a disclosure to the Bombay Stock Exchange.

Calculated on the basis of the closing share prices of Autoline Industries on 6 December, the deal value amounts to Rs1.65 crore.

Prior to this transaction, Merrill Lynch Capital held 3,70,981 shares which decreased to 2,75,981 shares pursuant to the said offloading.

Patel Engg to raise up to $500 mn from intl mkts

Construction and engineering firm Patel Engineering today said it will raise up to $500 million through the issue of securities in the international markets.

The shareholders of the company through postal ballot would consider raising $500 million through the issue of Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs) and other equity related instruments subject to necessary provisions and approvals.

The result of the postal ballot would be announced on 15 January, 2008.

The firm’s shares were trading at Rs812.10, down 1.43% in the afternoon on BSE.