Motherson Sumi Systems' subsidiary commences tender offer to repurchase notes due 2021

Samvardhana Motherson Automotive Systems Group B.V., Netherland ("SMRP BV"), a material subsidiary of Motherson Sumi Systems Limited ("the Company") had commenced a tender offer on October 20, 2020 for SMRP BV's outstanding 4.875% Senior Secured Notes due 2021.

Following the Tender Offer, out of U.S. $400 million in total aggregate principal amount of Notes issued, SMRP BV has either redeemed or repurchased a total U.S.$ 392.6 million (approximately) in aggregate principal amount of Notes to date.

Shares of MOTHERSON SUMI SYSTEMS LTD. was last trading in BSE at Rs.106.2 as compared to the previous close of Rs. 105.65. The total number of shares traded during the day was 446632 in over 3595 trades.

The stock hit an intraday high of Rs. 107 and intraday low of 105.1. The net turnover during the day was Rs. 47369575.

Source : Equity Bulls

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