Samvardhana Motherson To Raise R1665Cr Through An IPO
by Charmi Gutka
@Samvardhana 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.
Along with the merger of Shasun Pharmaceutical with itself, Strides Arcolab also announced the induction of a strategic partner in its greenfield biotech project, Stelis Biopharma. As per the deal GMS Holding will pick up 25.1%s stake in the biotech arm infusing $8.5Mn.
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