Samvardhana Motherson International’s (SAMIL) indirect wholly owned subsidiary -- MSSL Consolidated Inc. (MSSL Consol) has signed an Agreement for an investment of $14 million, 12% optionally convertible secured note of Prysm Systems Inc. (Prysm). Prysm is engaged in design development, manufacturing and sale of large format touch enabled display screens with embedded collaborative software. Prysm is developing a new ‘Gen-3’ prototype for mass production.
Upon successful delivery of Gen-3 prototype as per agreed specification and associated conditions, which is expected by quarter 4 of FY 2023-24, further invest $20 million and convert secured note to equity for majority stake i.e. not less than 72% on a fully diluted basis. Further, MSSL Consol may assign the investment in Prysm to any of the subsidiaries of SAMIL.
Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 119.00 |
| Tube Investments | 2713.30 |
| Bosch | 36606.15 |
| UNO Minda | 1072.50 |
| CIE Automotive India | 483.45 |
| View more.. | |
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