Samvardhana Motherson International plans to raise $715 million through share sale
SMIL plans to use the proceeds from the share sale to repay debt and fund some expansion and certain capital expenditure
India’s leading automotive supplier Samvardhana Motherson International Limited (SAMIL) is planning to raise $715 million through share sale, Reuters reported on Sept. 4. The capital will be raised through a qualified institutional placement (QIP), which lists companies in India generally used to raise funds from large institutions. SMIL plans to use the proceeds from the share sale to repay debt and fund some expansion and certain capital expenditure.
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