Monday, June 27 2005 18:57 Hrs (IST) - World Time -

Bangalore: The Board of Directors of Fiat India Pvt Ltd today (Jun 27, 2005) announced Fiat Auto Spas' increase in stake in Fiat India Pvt Ltd to 44.61 % from the current 19.44 % through an investment of over 200 crores.

The investment is reflective of the parent company's commitment to the Indian market. Since 1998, FIAT has made investments to the tune of Rs 2200 crores in India, towards building its capacity and increasing infrastructure capabilities.

The infusion of funds represents for Fiat India, free cash flow needed for future investments, to repay debt, and restructure its dealer network thereby sustaining its current operations.