Motherson Sumi Systems Ltd approves Qualified Institutional Placement

In respect of the QIP Offering, the Board of Directors of Motherson Sumi Systems Ltd at its meeting held on September 16, 2016, approved the issue and allotment of 62,884,827 Equity Shares to qualified institutional buyers at the issue price of Rs. 317/- per Equity Share, (including a premium of Rs. 316/- per Equity Share), constituting a discount of 2.79% to the floor price of Rs. 326.10 per share aggregating to Rs. 19,934,490,159/-.

Shares of MOTHERSON SUMI SYSTEMS LTD. was last trading in BSE at Rs.318.55 as compared to the previous close of Rs. 312.4. The total number of shares traded during the day was 243478 in over 3324 trades.

The stock hit an intraday high of Rs. 324 and intraday low of 314. The net turnover during the day was Rs. 77942243.

Source : Equity Bulls

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