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.
