Samvardhana Motherson Innovative Solutions Ltd enters into agreement with BIEL

Samvardhana Motherson Innovative Solutions Limited ("SMISL") a wholly owned subsidiary of Samvardhana Motherson International Limited ("the Company") has entered into a Securities Subscription Agreement, Shareholders Agreement and Technology Support Agreement ("Definitive Agreements") all dated January 18, 2024 with BIEL Crystal (Singapore) Private Limited ("BIEL").

Pursuant to the Definitive Agreements, BIEL will make investment(s) in Motherson Electronic Components Private Limited ("MECPL"), a wholly owned subsidiary of SMISL. Further, MECPL will receive Technical Assistance from BIEL and/or its Affiliates.

MOTHERSON ELECTRONIC COMPONENTS PRIVATE LIMITED, a company incorporated under the laws of India and having its registered office at F-7 Block, B-1, Mohan Cooperative Industrial Estate, Mathura Road, Tugalkabad, New Delhi - 110044, India ("MECPL"). MECPL was incorporated on March 15, 2023, to carry on the business of manufacturing, design, development, assembly, marketing, sale of components, materials etc. and to act as a vehicle for exploring new businesses for further expansion.

Shares of Samvardhana Motherson Innovative Solutions Limited was last trading in BSE at Rs. 108.00 as compared to the previous close of Rs. 109.25. The total number of shares traded during the day was 502089 in over 3749 trades.

The stock hit an intraday high of Rs. 109.65 and intraday low of 106.75. The net turnover during the day was Rs. 54365544.00.

Source : Equity Bulls

Keywords

SamvardhanaMothersonInternational INE775A01035 SamvardhanaMothersonInnovativeSolutions Agreement