Motherson Sumi Systems Ltd's subsidiaries to raise funds

Motherson Sumi Systems Ltd's subsidiaries, Samvardhana Motherson Automotive Systems Group B.V. (the Company) has announced the launch of its proposed tap issue of US$ 100,000,000 US$ 150,000,000 (Capped) senior secured notes offering (the Additional Notes) to form a single series with the U.S.$300,000,000 4.875% Senior Secured Notes due 2021. The Additional Notes are rated BB+ by S&P and are jointly and severally guaranteed on a senior secured basis by certain of the Company's subsidiaries.

Shares of MOTHERSON SUMI SYSTEMS LTD. was last trading in BSE at Rs.347.7 as compared to the previous close of Rs. 329.25. The total number of shares traded during the day was 790031 in over 6144 trades.

The stock hit an intraday high of Rs. 351.5 and intraday low of 334.5. The net turnover during the day was Rs. 268786907.

Source : Equity Bulls

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