Samvardhana Motherson is India's top auto parts maker by market capitalisation and counts carmakers from Maruti Suzuki to Mercedes-Benz among its customers
Auto components major Motherson on Friday said it has entered into a joint venture with Japan's Sanko, a player in material handling sector to provide sustainable packaging solutions in India and Europe. The joint venture (JV) will contribute to greater efficiencies in material handling with cost reduction in overall logistics spending, Motherson said in a statement. This partnership with Sanko is a strategic, synergistic diversification for the group, Motherson Chairman Vivek Chaand Sehgal said. "We believe that reimagining packaging as an engineered solution versus a simple commodity can bring immense logistics, cost, and value efficiencies to supply chains," he said. More importantly, Sehgal said, "We see this collaboration as another way to support our customers in achieving their sustainability goals." Sanko President Toshihiko Goto said, "We believe we can contribute more to Motherson's and our valuable customers by combining Motherson's strong global presence and our long .
These 15 companies accounted for 70 per cent of total fund mobilisation of Rs 93,453 crore via QIP route in the past six months, according to PRIME Database.
Indian automakers reported a decline in shipments to dealers for the first time in more than two years during the July-September quarter, to help manage the excess inventory
Indian automakers reported a decline in shipments to dealers for the first time in more than two years during the July-September quarter, to help manage the excess inventory
Auto components maker Samvardhana Motherson International on Monday said it has raised Rs 6,438 crore via issue of securities. The QIP issue garnered strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size, it said in a regulatory filing. Over 95 per cent of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investor, it added. The proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening company's balance sheet and enhancing its position to capitalise on various growth opportunities, it stated. Some of the proceeds will be used towards general corporate purposes, the company said. Shares of the company on Monday ended 2.19 per cent up at Rs 207.25 apiece on BSE.
The aggregate face value of the CCD are proposed to be converted into equity shares at a discount of 13.83 per cent
Shares of domestic auto component suppliers took a beating on Wednesday after Germany-based automaker BMW cut its Ebit margin and RoCE guidance due to escalating recall costs and delivery stops
With a market capitalisation of about $15 billion, Motherson supplies parts to domestic and global automakers such as Maruti Suzuki and Mercedes-Benz