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By Malvika Gurung
Investing.com — Shares of the automotive parts provider and producer Motherson Sumi Techniques (NS:) slid 20.2% to Rs 187.25 apiece at 12:05 pm on Friday, earlier than the document date for demerging its home wire harness enterprise.
The corporate intimated the inventory exchanges of setting the document date for demerger of enterprise to January 17, which means that the corporate’s present inventory would commerce ‘ex-domestic wiring harness’ enterprise, beginning Friday.
Aspiring to unlock worth from the wiring harness enterprise, the auto ancillaries main introduced to demerger the section from its present entity and record it individually by March, below the identify Motherson Sumi Wiring India, whereas the present firm will merge into Samvardhana Motherson Worldwide (SAMIL), the corporate held by the promoter.
Doing so will allow simplifying the group construction and creating a powerful development platform. ETIG pegs the honest worth of SAMIL at Rs 170-230/share, whereas that of the demerged enterprise at Rs 60-80 apiece.
Moreover, shareholders of the corporate will get one share every, of the demerged home wiring harness entity and the present entity.
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