Samvardhana Motherson International has informed that, Samvardhana Motherson Innovative Solutions (‘SMISL’) a wholly owned subsidiary of the Company has entered into a Securities Subscription Agreement, Shareholders Agreement and Technology Support Agreement (‘Definitive Agreements’) all dated January 18, 2024 with BIEL Crystal (Singapore) (‘BIEL’). Pursuant to the Definitive Agreements, BIEL will make investment(s) in Motherson Electronic Components (‘MECPL’), a wholly owned subsidiary of SMISL. Further, MECPL will receive Technical Assistance from BIEL and/or its Affiliates. The above disclosure is pursuant to regulation 30 of SEBI (LODR) Regulations, 2015 read with Para A of Part A of Schedule III of the LODR Regulations. The details as required under SEBI LODR Regulations read with SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed as Annexure A. The Board Meeting of the Company commenced at 0600 Hours (IST) and concluded at 0645 Hours (IST).
The above information is a part of company’s filings submitted to BSE.
