UBS Securities, Merrill Lynch, Morgan Stanley acquire stake in ICSA India

Mumbai: One of the top runners in the mid cap segment has caught the attention of large investors like

UBS Securities Asia Limited, Merrill Lynch and Morgan Stanley have collectively acquired an8.63-per cent in software firm ICSA (India) Ltd. The individual stake of the three fund houses is, UBS Securities - 3.47 per cent (280,665 shares), Merrill Lynch - 3.32 per cent (268,540 shares) and Morgan Stanley 1 -.83 per cent (148,292 shares.

Earlier this year global investment bank Goldman Sachs invested $46 million in the software firm through the FCCB route apart from acquiring 350,000 convertible warrants in it.

ICSA (India) Ltd develops technology solutions for the power, oil, water and gas sectors to identify transmission and distribution (T&D) losses and monitor power and oil consumption using the GSM network.