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I.P.O. / Offerings | 25 April 2012

Samvardhana Motherson To Raise R1665Cr Through An IPO

by Charmi Gutka
Samvardhana Motherson To Raise R1665Cr Through An IPO
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Samvardhana Motherson Finance Limited has filed DRHP to raise R1665Cr, which includes a fresh issue of R1344Cr and an offer for sale of R321Cr by Radha Rani Holdings Pte Limited.

The funds raised through fresh issue will be used to fund pre-payment and repayment of debt facilities availed by company and its subsidiaries (R356Cr); funding strategic investments (R660Cr) and funding investments in rear-view vision systems business (R164Cr).

The IPO will open for subscription on May 2 and close on May 4, 2012.

Standard Chartered Securities (India) Limited and JP Morgan India Private Limited are book running lead managers to the issue.

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