Samvardhana Motherson International informed that its board will meet on Friday, 2 August 2024, to consider raising of funds by issue of equity shares or any other securities convertible into equity shares or a combination of such securities.
The company may raise funds through further public offer, rights issue, american depository receipts/global depository receipts/foreign currency convertible bonds, qualified institutions placement, preferential issue or any other method as may be permitted under applicable laws, subject to such regulatory/statutory approvals.Samvardhana Motherson International is the flagship company of the Samvardhana Motherson group. The company reported consolidated net profit of Rs 1,371.82 crore in Q4 FY24, higher than Rs 653.96 crore posted in Q4 FY23. Total revenue from operations rose 20.17% YoY to Rs 27,058.22 crore during the March 2024 quarter.
The scrip declined 0.77% to close at Rs 194.15 on Tuesday, 30 July 2024.
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