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An employee walks past machines used to make auto parts at the factory of the Samvardhana Motherson Group in Noida
Samvardhana raises $42 mln from IPO anchor investors
Samvardhana Motherson Finance Ltd has placed around 2.2 billion rupees worth shares with cornerstone investors, stock exchange data showed, ahead of its initial share sale of about 16.65 billion rupees that opens on May 2. Samvardhana, which provides design and manufacturing solutions to automakers, had set a price band of 113-118 rupees per share for the initial public offering (IPO). The company