UPDATE 1-Actis adds 7 pct stake in India's Swaraj -sources

Newswire

(Adds details, share price) BOMBAY, Jan 24 (Reuters) - Private equity firm Actis has received a tepid response to its open offer for an enlarged stake in Indian commercial vehicle maker Swaraj Mazda Ltd. , sources close to the deal said on Monday. Sources said Actis had picked up some 750,000 shares, or 7 percent of Swaraj's equity, after having sought up to 25 percent more to add to its 9.28 percent direct holding. Actis even raised its offer to 400 rupees each from 325 rupees in early ...

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