Japan's Sumitomo Wiring Systems (SWS) has divested a 4.43% stake in Samvardhana Motherson International (SAMIL) for Rs 3,633 crore through open market transactions. Sumitomo Wiring Systems is one of the promoter entities in Samvardhana Motherson International.
Sumitomo Wiring Systems sold a total of 30 crore shares in SAMIL. The shares were offloaded within the price range of Rs 121.03-121.25 apiece. After the stake sale, the shareholding of SWS has declined to 9.72% from 14.15% in the company.
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.
