Khaitan & Co Advised Samvardhana Motherson International On ₹6,438 Cr QIP
Khaitan & Co Advised Samvardhana Motherson International On ₹6,438 Cr QIP
Khaitan & Co acted as legal counsel to Samvardhana Motherson International Ltd. (SAMIL) in a successful Qualified Institutions Placement (QIP), raising a total of INR 6,438 crores.
The capital raised included equity shares valued at INR 4,938 crores and Compulsorily Convertible Debentures (CCDs) amounting to INR 1,500 crores.
The transaction saw a subscription at a share price of ₹190, surpassing the SEBI ICDR regulations’ floor price of ₹188.85 per share.
SAMIL is a prominent global engineering and manufacturing leader, catering to nearly all major automobile manufacturers across 44 countries. In addition to its automotive focus, the company has diversified into non-automotive sectors such as aerospace, healthcare, and technology solutions. Ranked among the top 15 automotive suppliers worldwide, SAMIL is committed to enhancing shareholder value through its progressive business strategies.
With this capital infusion, SAMIL intends to primarily focus on debt repayment, thereby improving its financial flexibility. The company’s leadership expressed gratitude to its investors, noting that this QIP underscores their confidence in the company’s strategic growth plans and enduring relationships with global Original Equipment Manufacturers (OEMs).
The deal was spearheaded by Partners Abhimanyu Bhattacharya and Thomas George, along with Principal Associate Prathiksha Panduranga and Associates Jash Botadra, Varun Nair, and Lakshmi Raj C.
