Announced Tue, 18 Aug · 14:29 IST
NCLT approves capital reduction at Motherson Technology Services subsidiary
MOTHERSON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+1.3%1-day move
₹168.06
prior close
₹169.97
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.1-0.1-0.0-0.0+1.3+0.9+0.8-0.3-1.6-1.7-2.5-1.8——
Up moveDown movePending
AI summary
NCLT has approved the reduction of share capital of Motherson Technology Services Ltd (MTSL), a subsidiary of Samvardhana Motherson International. MTSL will cancel 78,58,602 equity shares (7.04 percent) held by minority shareholders, making it a wholly owned subsidiary. Minority shareholders will receive Rs 42.66 per share, totalling about Rs 33.52 crore. Parent currently holds 92.96 percent and will move to 100 percent ownership.
Likely market impact
Minority shareholders of MTSL get an exit at Rs 42.66 per share. MTSL becomes fully owned subsidiary, simplifying group structure.