It announced the closure of the QIP pursuant to the receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers

The aggregate face value of the CCD are proposed to be converted into equity shares at a discount of 13.83 per cent

In additional to the equity share sale, Samvardhana Motherson is also issuing Compulsorily Convertible Debentures (CCDs) for subscription to eligible institutional participants.

Along with a QIP of equity shares, Samvardhana will also be issuing compulsorily convertible debentures (CCDs), SMIL said.

Samvardhana Motherson International Ltd is a component of the BSE 200. According to the NSE, the company has a total market cap of Rs 1,31,055.99 crore.

Samvardhana Motherson, a leading automotive OEM supplier, has launched its Qualified Institutions Placement (QIP) of shares with a floor price set at Rs 188.85 per share, according to a late evening exchange filing on6.

Samvardhana Motherson, a multinational automotive component manufacturer with headquarters in Noida, began accepting qualified institutional placements (QIPs) in order to raise capital. There will be a 5 per cent dilution of the total equity due to the Rs 6,398.6 crore equity issue, according to reports, on Monday, September 16.