ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
Business

Motherson Sumi raises Rs. 1,993 crore via QIP issue

New Delhi [India], Sep 18 (ANI): Auto component firm Motherson Sumi Systems has announced Rs. 1,993.44 crore raising via issuance of 62,884,827 shares to qualified institutional buyers.

ANI Sep 18, 2016 20:05 IST googleads

Motherson Sumi raises Rs. 1,993 crore via QIP issue
New Delhi [India], Sep 18 (ANI): Auto component firm Motherson Sumi Systems has announced Rs. 1,993.44 crore raising via issuance of 62,884,827 shares to qualified institutional buyers. The company in a regulatory filing said that qualified institutional placement (QIP) issue opened on September eight and closed on September 13 for receiving applications from investors. For the QIP, 62,884,827 shares were issued to qualified institutional buyers at an issue price of Rs. 317 after giving a discount of 2.79 per cent, it added. "We have always focused on consistent growth and creating sustainable value for all our stakeholders," said MSSL Chairman, V C Sehgal. The company has been expanding through three main growth engines organic growth of existing businesses, joint ventures and acquisitions. The company intends to use the net proceeds of the QIP issue for meeting general corporate purposes and achieving the objectives in MSSL's five-year plan 'Vision 2020'. (ANI)

Get the App

What to Read Next

Business

Global virtual travel card program launched by Visa and Trip.com

Global virtual travel card program launched by Visa and Trip.com

Singapore, March 11: As international travel rebounds across Asia Pacific, Visa (NYSE: V), a global leader in digital payments, and Trip.com Group have entered into a new global agreement designed to make booking and paying for travel more seamless for consumers and partners worldwide. Through this collaboration, Trip.com Group will introduce a virtual travel card program issued in partnership with Visa via Trip.com Group's fintech arm, TripLink.

Read More
Business

Gali Mohalla Cricket League (GMCL) announces Rs 900cr

Gali Mohalla Cricket League (GMCL) announces Rs 900cr

Dubai [UAE], March 10: GMCL has just announced the launch of a Rs 900 Crore ($100 million) blockchain-based tokenisation issue, positioning it as one of the first large-scale digital asset offerings linked to a professional international cricket league. Baba Inder Preet Singh, founder GMCL said that "The offering will create a tokenised investment structure designed to provide exposure to the league's commercial ecosystem, including broadcast rights, sponsorship revenues, franchise participation, licensing, and digital fan engagement platforms.GMCL plans to engage institutional investors, digital asset funds, family offices, and strategic partners as part of the global issuance process."

Read More
Business

Hello Entrepreneurs Unveils Inspiring Women Entrepreneurs

Hello Entrepreneurs Unveils Inspiring Women Entrepreneurs

New Delhi [India], March 10: Women entrepreneurs in India are bringing fresh ideas and strong leadership across industries. From technology and education to wellness, hospitality, design, and architecture, they are building impactful businesses and inspiring others. In its latest Womentrepreneurs issue, Hello Entrepreneurs highlights women who are making a difference and encouraging more women to pursue their entrepreneurial dreams.

Read More
Business

Nashik Municipal Corporation issued its first public Green Munici

Nashik Municipal Corporation issued its first public Green Munici

The Nashik Municipal Corporation listed Maharashtra's Urban Local Body (ULB)'s 1st public issue of Green Municipal Bonds on the National Stock Exchange today. Posting on its social media, NSE congratulated Nashik Municipal corporation saying, "Congratulations to Nashik Municipal Corporation on listing of Maharashtra's ULB's 1st Public Issue of Green Municipal Bonds on NSE today." Maharashtra's Chief Minister, Devendra Fadnavis, was also present at the ceremony.

Read More
Business

Visa Intelligent Authorization modernises payment processing

Visa Intelligent Authorization modernises payment processing

Singapore, March 9: Visa (NYSE: V) today announced the launch of Visa Intelligent Authorization, a new capability on the Visa Acceptance Platform that enables acquirers (banks and other financial institutions that process payments for merchants) to modernise their payment processing through a single API connection, helping eliminate the need for expensive, time-consuming infrastructure rebuilds.

Read More
Business

VELS Announces Seed Funding and Scholarships

VELS Announces Seed Funding and Scholarships

Chennai (Tamil Nadu) [India], March 7: Marking the spirit of International Women's Day, Vels Institute of Science, Technology & Advanced Studies (VISTAS) organised a special programme honouring inspiring women from governance, entrepreneurship, and sports. The event celebrated the achievements of accomplished women while also supporting aspiring entrepreneurs and students from economically disadvantaged backgrounds.

Read More
Business

Türk Telekom and ZTE Complete World's First C+L Full-Band

Türk Telekom and ZTE Complete World's First C+L Full-Band

Barcelona [Spain], March 5: ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, and Turk Telekom have jointly completed the world's first C+L (12 THz) full-band integrated 1.6Tbps live network trial in Istanbul. The trial has significantly boosted system capacity, reduced spare part types, and enabled ultra-high-speed 400GE/800GE service transmission, laying a solid foundation for Turkiye to develop ultra-broadband and intelligent all-optical networks, thereby elevating the digital economy level of Turkiye and even Eurasia.

Read More
Business

Student Innovation at MRIS IB Sector 46 Gurugram Highlights

Student Innovation at MRIS IB Sector 46 Gurugram Highlights

Gurugram (Haryana) [India], March 5: Air pollution is no longer a distant environmental issue. It affects daily life - on roads, in neighbourhoods, and even inside classrooms. At Manav Rachna International School (MRIS) IB, Sector 46 Gurugram, a student's curiosity has transformed this global concern into a meaningful innovation.

Read More
Business

Steel Exchange India Ltd (SEIL) to Raise INR 350 Cr

Steel Exchange India Ltd (SEIL) to Raise INR 350 Cr

Mumbai (Maharashtra) [India], March 5: IMR Group ("IMR"), a leading international metals and mining conglomerate, today announced a strategic investment of INR 300 Crores in Steel Exchange India Limited ("SEIL") through subscription to share warrants. The investment will be made through IMR's Indian entities -- India Coke and Power Private Limited ("ICPPL") and IMR Steel Private Limited ("ISPL"). This capital infusion will strengthen SEIL's operations, optimize its debt structure, and position the company for accelerated growth -- marking a significant milestone in IMR's forward integration strategy and its expansion across India's high-growth steel sector.

Read More
Business

Cupid Limited Announces Record Date for 4:1 Bonus Issue

Cupid Limited Announces Record Date for 4:1 Bonus Issue

Mumbai (Maharashtra) [India], March 3: Cupid Limited (BSE: 530843 | NSE: CUPID) has announced the issue and allotment of Bonus Equity Shares in the ratio of 4:1, rewarding its shareholders for their continued trust and support.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.