Amtek Auto Ltd is in final stages of negotiations with bankers to “realign” the maturity of its debt, a top company official said on Monday, even as two bankers involved in the talks said the firm has sought additional funds. This demand for funds is likely to be granted, said the bankers.
“Close to 60-70% of the banks have already agreed to realign the debt and the process will be completed by the end of October,” John Flintham, vice-chairman at Amtek Auto, said in a phone interview on Monday.
