Motherson Sumi Systems’ subsidiary -- Samvardhana Motherson Automotive Systems Group will raise around Rs 2,000 crore through issue of notes due in December 2021. The proceeds from the issuance and sale of the 2016 Notes will be used to repay existing third party indebtedness and for general corporate purposes, including to make certain capital expenditures. This is the third successful issue of Notes by the company and marks its successful debut in the US dollar bond markets. The offering is scheduled to close on June 16, 2016.
Motherson Sumi Systems (MSSL), 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. MSSL’s broad business portfolio includes wiring harnesses, mirrors for passenger car, injection moulded products, modules including dashboards, door trims, bumpers, blow moulded components, liquid silicone rubber moulded components, injection moulding tools, extruded rubber products, precision machined metal components and waste recycling systems.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 125.00 |
| Tube Investments | 2789.65 |
| Bosch | 37505.60 |
| UNO Minda | 1097.30 |
| CIE Automotive India | 490.15 |
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