Investment21 Mar 2025, 11:44 pm
Samvardhana Motherson International to Invest INR 200 Crore in Subsidiary CIM Tools
AI Summary
Samvardhana Motherson International Limited (SMIL) has approved the subscription of up to 20,000 9.25% Compulsory Convertible Debentures (CCD) worth INR 200 crore in its subsidiary, CIM Tools Private Limited. The move aims to strengthen CIM Tools' balance sheet to absorb impending growth opportunities. CIM Tools, a subsidiary of SMIL since April 6, 2022, is engaged in machining and sub-assembly of components for the aerospace industry and owns 83.02% in Aero Treatment Private Limited.
Key Highlights
- SMIL to invest INR 200 crore in CIM Tools through CCDs
- CIM Tools is a subsidiary of SMIL involved in the aerospace industry
- Investment aims to strengthen CIM Tools' balance sheet for future growth
- CIM Tools owns 83.02% in Aero Treatment Private Limited
- SMIL holds 55% of CIM Tools' equity shares