Samvardhana Motherson Raises Rs.6,438 Crore via Securities Issue
ECONOMY & POLICY

Samvardhana Motherson Raises Rs.6,438 Crore via Securities Issue

Auto components manufacturer Samvardhana Motherson International announced on Monday that it has raised Rs.6,438 crore through a qualified institutional placement (QIP) of securities. The company reported significant demand from both domestic and foreign institutional investors, surpassing the issue size.

According to a regulatory filing, over 95% of the allocations were made to leading long-term investors, including mutual funds, insurance companies, pension funds, and foreign institutional investors.

The company plans to use the majority of the funds to repay debt, improving its financial position and enabling it to capitalize on future growth opportunities. A portion of the proceeds will also be allocated for general corporate purposes.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Auto components manufacturer Samvardhana Motherson International announced on Monday that it has raised Rs.6,438 crore through a qualified institutional placement (QIP) of securities. The company reported significant demand from both domestic and foreign institutional investors, surpassing the issue size. According to a regulatory filing, over 95% of the allocations were made to leading long-term investors, including mutual funds, insurance companies, pension funds, and foreign institutional investors. The company plans to use the majority of the funds to repay debt, improving its financial position and enabling it to capitalize on future growth opportunities. A portion of the proceeds will also be allocated for general corporate purposes.

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