Motherson Sumi Systems Ltd arm announces offering of Euro 500 million

Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP, BV), Motherson Sumi Systems Ltd’s subsidiary and joint venture with Samvardhana Motherson International Limited for Samvardhana Motherson Reflectec (SMR) and Samvardhana Motherson Peguform (SMP) has announced an offering of € 500,000,000 new Senior Secured Notes, proceeds of which shall be utilized for prepayment of existing borrowings as well for general corporate purposes including financing of capital expenditure. The proposed offering does not involve any corporate guarantee from the parent.

Shares of MOTHERSON SUMI SYSTEMS LTD. was last trading in BSE at Rs.314.85 as compared to the previous close of Rs. 312.95. The total number of shares traded during the day was 74289 in over 3568 trades.

The stock hit an intraday high of Rs. 320 and intraday low of 313.35. The net turnover during the day was Rs. 23471225.

Source : Equity Bulls

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