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Samvardhana Motherson Finance Fixes IPO Price Band

Components supplier to automotive industry Samvardhana Motherson Finance Ltd. said the price band for the proposed initial public offering or IPO had been fixed in the range of Rs.113-Rs.118 apiece.

The minimum bid lot in the IPO is 50 equity shares and in multiples of 50 equity shares thereafter.

The company is entering the capital market next week to raise around Rs.1,665 crore. The issue opens on May 2 and closes on May 4. 2012.

Standard Chartered and JP Morgan are the book runners for the issue.

Samvardhana is an integrated design and manufacturing company providing full system solutions to diverse industries. It presently supplies components to automotive original equipment manufacturers namely Volkswagen group, BMW, Daimler, Renault, Nissan, Ford India, Volvo Car Corporation, Maruti Suzuki, Tata Motors, Honda Siel Cars India, Toyota, Kirloskar Motor and Fiat India Automobiles

by RTTNews Staff Writer

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