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Shivam Autotech touches roof as Modulus Alternatives infuses Rs 105 crore in company

21 Sep 2023 Evaluate

Shivam Autotech is currently trading at its upper limit of Rs. 35.83, up by 1.70 points or 4.98% from its previous closing of Rs. 34.13 on the BSE.

The scrip opened at Rs. 33.45 and has touched a high and low of Rs. 35.83 and Rs. 33.45 respectively. So far 30040 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 42.00 on 22-Sep-2022 and a 52 week low of Rs. 20.50 on 31-Mar-2023.

Last one week high and low of the scrip stood at Rs. 36.98 and Rs. 32.67 respectively. The current market cap of the company is Rs. 437.92 crore.

The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 0.02% and 25.19% respectively.

Private credit platform Modulus Alternatives Investment Managers has infused Rs 105 crore in Shivam Autotech as part of its commitment to invest Rs 150 crore in the company. The proceeds of the investment will be utilised for both growth and working capital.

This is the maiden investment of the platform's second private credit fund, India Credit Opportunities Fund II (ICOF II), which was launched earlier this year. Shivam Autotech, a Hero Group company, is Modulus Alternatives' 16th investment, thus taking the total invested capital to Rs 1,895 crore in the private credit platform.

Shivam Autotech is one of the largest manufacturers of transmission gears and shafts in India. The company has been serving a large number of automobile manufacturers as their principal component partner for the past many years.  


Shivam Autotech Share Price

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