Covid-19: MSSL board gives nod to raise Rs 10 billion to enhance liquidity

The board of auto components major Motherson Sumi Systems Ltd (MSSL) has given in-principle approval to raise Rs 10 bilion to enhance liquidity during the uncertain times of coronavirus pandemic, according to a company statement.

The firm, which has plants in India, Europe and America that are temporarily closed now, said it has received positive reopening dates for the vast majority of the plants by end of April/ early May.

However, the situation being dynamic there could be further delays in reopening plants in case the local governments extend lockdowns, of which there are no current clear indications, the company