Auto component manufacturer Motherson Sumi is planning to raise ₹1,000 crore in total. The fundraise will be carried out through non-convertible debentures in one or more tranches, the company said in a stock exchange filing on Monday.
“The Board of Directors of the company in its meeting held today (November 8, 2021), has approved the issuance of rated, listed, unsecured, redeemable non-convertible debentures of face value of ₹10 lakh each, for an aggregate principal amount of up to ₹1,000 crore, on a private placement basis, in one or more series/tranches to certain eligible investors permitted to invest in the NCDs under applicable laws," the company said in its filing.
Further details about the issue, including tenure, special rights, details of redemption, etc, will be decided by the delegated authorised persons or committee of directors, Motherson Sumi further added.
