In-principle approval by the Board for issuance of Fund Raising (NCDs).
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The Board of Directors of Samvardhana Motherson International Limited has given in-principle approval for issuing rated, listed, unsecured, redeemable Non-Convertible Debentures (NCDs) worth up to INR 5,000 crores through private placement. The NCDs will have a face value of INR 1 lakh each, with 5 lakh units to be issued in one or more series/tranches to eligible investors. The securities will be listed on BSE and/or NSE. Key terms like tenure, coupon rate, and redemption details will be decided later by the delegated committee.
This is a significant debt fundraise that could dilute shareholder value or increase financial leverage. The Rs 5,000 crore NCD issuance on private placement basis signals the company is tapping capital markets to raise debt, which could impact debt ratios and interest costs.