Samvardhana Motherson Finance has placed around Rs220 crore worth shares with cornerstone investors, stock exchange data showed, ahead of its initial share sale of about Rs1,665 crore that opens today (May 02, 2012).
Samvardhana, which provides design and manufacturing solutions to automakers, had set a price band of Rs113-118 per share for the initial public offering ( IPO).
The company sold shares at Rs115 a piece to funds including investment arms of Commonwealth Bank of Australia, Government of Singapore, and India's Birla Sun Life Mutual Fund, data on the National Stock Exchange ( NSE) website showed late Monday (April 30, 2012).
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Samvardhana, which provides design and manufacturing solutions to automakers, had set a price band of Rs113-118 per share for the initial public offering ( IPO).
The company sold shares at Rs115 a piece to funds including investment arms of Commonwealth Bank of Australia, Government of Singapore, and India's Birla Sun Life Mutual Fund, data on the National Stock Exchange ( NSE) website showed late Monday (April 30, 2012).
....more info