Samvardhana Motherson Finance Limited withdraws IPO

Samvardhana Motherson Finance Limited had proposed to make a public issue of equity shares of Rs.10 each aggregating Rs.16650 million (comprising a fresh issue portion aggregating Rs.13440 million and an offer for sale portion aggregating Rs.3210 million).

The issue opened on May 2, 2012 and closed on May 4, 2012. On the basis of provisional application data available from the websites of BSE and NSE, the company, selling shareholders and the BRLMs have decided not to proceed with the issue.

The company, the selling shareholder and the BRLMs shall initiate steps with regard to refund of the bid amounts received in accordance with the terms of the Red Herring Prospectus.

Source : Equity Bulls

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