Samvardhana Motherson Automotive Systems — a subsidiary of Samvardhana Motherson International Limited has fully acquired SMR Jersy as its stake in SMR Jersy has surged to 100 per cent in latest 1.55 per cent stake buy. As per the latest exchange filing by Samvardhan Motherson International Ltd, its subsidiary Samvardhana Motherson Automotive Systems has bought additional 1.55 per cent stake in SMR Jersy paying 18.4 million Euro. After this stake buy, SMR Jersy has become a subsidiary of Samvardhana Motherson International.
Samvardhan Motherson International informed Indian bourses about the development citing, “Samvardhana Motherson Automotive Systems Group B.V., Netherland (‘SMRP B.V.’), a material subsidiary of Samvardhana Motherson International Limited (formerly Motherson Sumi Systems Limited) (‘the Company’) has acquired additional 1.55% shares of Samvardhana Motherson Reflectec Group Holdings Limited (‘SMR Jersey’) from an independent third party at Euro 18.4 million. After acquisition of aforesaid 1.55% stake, SMR Jersey has become 100% subsidiary of SMRP B.V.”
This is one of the major investment of the company in last two days. The company had informed Indian stock exchanges on 4th March about its further investment in one of its subsidiaries Motherson Technology Services Limited or MTSL. It has raised its stake in MTSL from 62.9 per cent to 90.4 per cent.
Samvardhan Motherson International informed Indian stock market exchanges about raising stake in MTSL citing, “This is to inform you that Samvardhana Motherson International Limited (formerly Motherson Sumi Systems Limited) (the “Company”) has made further investment in the equity shares of Motherson Technology Services Limited (formerly MothersonSumi INfotech & Designs Limited.) (‘MTSL”), a subsidiary of the Company. Consequently, the holding of the Company has been increased from 62.9% to 90.4% of the total paid-up share capital of MTSL.”
Samvardhana Motherson International share price is quoting ₹80.26 in pre-open session on Monday.
