Analysis and Insights into the world of IPOs and investing in India

Saturday, May 5, 2012

Samvardhana Motherson Finance IPO withdrawn

Samvardhana Motherson Finance Ltd (SMFL) has withdrawn its Rs 1665.00 Crore IPO due to poor response from investor from all categories of investors
 
SMFL public issue subscribed 0.23 times on its final day of subscription. QIB quota of the IPO subscribed with bids received for 57% shares. The response in Non Institutional, Retail Individual and Employee Reservation quota was horribly frail with less than 1% subscription

Samvardhana Motherson Finance Limited (SMFL) is a multinational business with manufacturing and design capabilities providing full system solutions to diverse industries. SMFL provides an end-to-end range of design and manufacturing solutions to the automotive customers, including product concept and product design, engineering, manufacturing, sub-assembly and the production of integrated modules
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