Motherson Sumi To Raise Up To Rs 563 Crore Via Equity Issue

, 4:14 PM IST

New Delhi: Auto components maker Motherson Sumi Systems on Monday said its board has approved raising up to Rs 563.06 crore by way of preferential allotment of up to 1.78 crore equity shares to Japan’s Sumitomo Wiring Systems.

The company’s board, which met today, has approved the issue and allotment of 17,762,460 shares of face value of Re 1 of the company to Sumitomo Wiring Systems, Japan at the issue price of Rs 317 per share on a preferential basis, Motherson Sumi Systems said in a regulatory filing.

Shares of the company today ended at Rs 313.55 apiece on the BSE, down 4.74 per cent from previous close.