Samvardhana Motherson Finance files DRHP for 
1750cr IPO
Bangalore: Samvardhana Motherson Finance Ltd (SMFL) today said it has filed preliminary papers with market regulator Sebi for an initial share sale to raise about 
1,750 crore.
An integrated design and manufacturing company, SMFL is mainly focused on automotive industry. The entity holds over 36 percent stake in auto component maker Motherson Sumi Systems.
In a statement, SMFL said it has filed Draft Red Herring Prospectus (DRHP) for initial share sale today with Sebi.
The firm plans to raise 1,750.5 crore through an initial public offering, that includes issuing of fresh shares worth 1,413 crore.
Further, Radha Rani Holdings Ptd Lt would offload shares to the tune of 337.5 crore.
"The issue includes a reservation of up to 5 percent for subscription by the eligible shareholders. The price will be discovered through book building process," the statement said.
The issued shares are expected to be listed on the National Stock Exchange as well as the Bombay Stock Exchange.
Book Running Lead Managers for the issue are Standard Chartered Securities (India) Ltd and JP Morgan India Private Ltd.
SMFL has 90 manufacturing facilities with a presence in 23 countries and is in the process of establishing new facilities in India, Brazil and Thailand, according to its website.
Source: PTI
1,750 crore.
An integrated design and manufacturing company, SMFL is mainly focused on automotive industry. The entity holds over 36 percent stake in auto component maker Motherson Sumi Systems.
In a statement, SMFL said it has filed Draft Red Herring Prospectus (DRHP) for initial share sale today with Sebi.
The firm plans to raise 1,750.5 crore through an initial public offering, that includes issuing of fresh shares worth 1,413 crore.
Further, Radha Rani Holdings Ptd Lt would offload shares to the tune of 337.5 crore.
"The issue includes a reservation of up to 5 percent for subscription by the eligible shareholders. The price will be discovered through book building process," the statement said.
The issued shares are expected to be listed on the National Stock Exchange as well as the Bombay Stock Exchange.
Book Running Lead Managers for the issue are Standard Chartered Securities (India) Ltd and JP Morgan India Private Ltd.
SMFL has 90 manufacturing facilities with a presence in 23 countries and is in the process of establishing new facilities in India, Brazil and Thailand, according to its website.