Motherson Sumi Systems inches up on getting nod to raise up to Rs 1,000 crore through NCDs
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Motherson Sumi Systems is currently trading at Rs. 238.70, up by 0.15 points or 0.06% from its previous closing of Rs. 238.55 on the BSE.
The scrip opened at Rs. 239.00 and has touched a high and low of Rs. 240.80 and Rs. 237.05 respectively.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 273.00 on 02-Jun-2021 and a 52 week low of Rs. 117.65 on 09-Nov-2020.
Last one week high and low of the scrip stood at Rs. 240.80 and Rs. 226.85 respectively. The current market cap of the company is Rs. 75127.26 crore.
The promoters holding in the company stood at 61.73%, while Institutions and Non-Institutions held 30.04% and 8.24% respectively.
Motherson Sumi Systems has received approval to raise up to Rs 1,000 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. The company's board of directors in its meeting held on November 08, 2021 approved the issuance of rated, listed, unsecured, redeemable NCDs of a face value of Rs 10 lakh each. These will be issued on a private placement basis, in one or more series/tranches to certain eligible investors and are proposed to be listed on the BSE.
Motherson Sumi Systems, including its subsidiaries and JVs is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.
