Samvardhana Motherson International Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Samvardhana Motherson Finance Ltd Scraps INR16.65 Billion IPO Due To Weak Investor Response-India Investment News
India Investment News reported that Samvardhana Motherson Finance Ltd Samvardhana Motherson Finance Ltd withdrew its INR16.65 billion Initial Public Offering (IPO), which opened on May 2, due to poor response from the investors amid weak market, rupee fall, economic slowdown and fear over government's proposal to implement strict tax evasion laws. The public offer attracted bids for just 23% of the issue size by 5:00 pm May 4, the last day of subscription, despite raising about INR2.2 billion from anchor investors, the stock exchange data showed. Samvardhana Motherson Finance had filed a draft red herring prospectus (DRHP) for the IPO with the capital markets regulator Securities and Exchange Board of India (SEBI) in September last year. Standard Chartered Securities India Ltd and JP Morgan India Pvt Ltd were the book running lead managers to Samvardhana Motherson Finance's public issue.
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