Samvardhana Motherson's BIEL invests in Motherson Electronic Components
Samvardhana Motherson International Limited (MOTHERSON) announced that its subsidiary, BIEL Crystal (Singapore) Private Limited (BIEL), has made an initial investment in Motherson Electronic Components Private Limited (MECPL), following the terms of their Securities Subscription Agreement. BIEL has subscribed to 0.01% Cumulative Compulsory Convertible Preference Shares (CCPS) in MECPL, amounting to 51,666,667 shares. The CCPS have been allotted for an aggregate consideration of approximately INR 51.67 Crore. This investment results in SMISL holding 90% and BIEL holding 10% of MECPL’s issued and paid-up share capital on a fully diluted basis. As per the agreement, BIEL has the right to nominate one director to MECPL's board, given its stake is below 26%. Additionally, BIEL can increase its shareholding in MECPL up to 49% on a fully diluted basis in up to two tranches, which can be exercised on or before April 17, 2029.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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