Samvardhana Motherson To Raise R1665Cr Through An IPO
by Charmi Gutka
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.