Intimation of outcome of the Board meeting under regulation 30 of SEBI Listing Regulations for raising of funds through NCD.
Awaiting price reaction for this filing.
The Board of Directors of Samvardhana Motherson International Limited, at its meeting held on May 29, 2025, gave in-principle approval for issuing rated, listed, unsecured, redeemable non-convertible debentures (NCDs) on a private placement basis. The NCDs will have a face value of INR 1,00,000 each, with up to 8,50,000 NCDs to be issued, aggregating to a maximum of INR 8,500 crores. The issuance may happen in one or more series or tranches and will be listed on BSE and/or NSE. Key details such as tenure, coupon rate, redemption schedule, and special rights are yet to be finalised by a delegated committee. This follows an earlier communication dated May 22, 2025.
This is a significant debt-raising move of up to INR 8,500 crores, which will increase the company's borrowings and interest obligations. The impact on shareholders depends on the use of proceeds and the eventual coupon rate, which are yet to be disclosed.