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Motherson Sumi raises Rs 1,993.44 crore via QIP

19 Sep 2016 Evaluate

Motherson Sumi Systems has raised Rs 1,993.44 crore through issuance of 62,884,827 shares to qualified institutional buyers (QIBs). The company’s qualified institutional placement (QIP) issue opened on September 8 and closed on September 13 for receiving applications from investors. For the QIP, 62,884,827 shares was issued to qualified institutional buyers at an issue price of Rs 317 after giving a discount of 2.79 per cent.

Furthermore, an allotment of 17,762,460 shares of face value of Rs 1 each has been made in favour of Sumitomo Wiring Systems (SWS) at the issue price of Rs 317 per share aggregating around Rs 563.07 crore. Post this preferential allotment and the one under QIP, SWS shareholding continues to remain above 25 per cent.

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.

SamvardhanaMotherson Share Price

128.20 1.00 (0.79%)
24-Apr-2026 09:09 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 128.20
Tube Investments 3108.75
Bosch 37500.20
UNO Minda 1131.55
CIE Automotive India 492.05
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