Samvardhana Motherson International will raise funds through a Qualified Institutional Placement. It will use the amount to repay debt, fund capital expenditure and execute expansion plans.

Sep 11, 2024

Samvardhana Motherson International, one of India’s largest auto part makers, is set to launch a share sale of up to USD 715 million in September, 2024.

As per a leading global news agency, two sources close to the development revealed that Motherson’s roadshows for the fund-raising exercise were finding support from investors, and the process was expected to complete by month-end.

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The funds were to be raised through a Qualified Institutional Placement (QIP), a process used by listed Indian companies to raise funds from large institutions. Samvardhana Motherson International planned to use the amount to repay debt, fund a certain capital expenditure and execute some expansion plans, added the agency.

The company was taking advice from Axis Bank, HSBC, Jefferies, JM Financial and Morgan Stanley on the share sale.