- Toyoda Gosei
- Safety Systems
- Console Boxes
- Collaborative Robots
Toyoda Gosei To Open New Plant In South India
- by MT Bureau
- September 26, 2024
Toyoda Gosei Co., Ltd. is set to open a new plant in Harohalli, Karnataka, India, to meet the growing automobile production in India.
Built on a total land parcel of approx 40,000 square metres, with a building area of approx 18,000 square metres, the new plant is a branch plant of Toyoda Gosei South India Pvt Ltd. The company has pumped in INR 2.05 billion for this project. The plant is expected to have a staff of approx 580 people and will begin production of safety systems, such as airbags and steering wheels, and interior and exterior products, such as console boxes and pillars, from 2026. Armed with collaborative robots and karakuri technology, the automated plant will feature automated transport machines, energy-efficient electric moulding machines and solar panels.
India is one of Toyoda Gosei's main markets. As the car industry grows quickly, there is an increasing need for airbags, one of the company's primary products, against a backdrop of rising traffic deaths. In recent times, manufacturers have been boosting their manufacturing capacity for sports utility vehicles (SUVs) due to their rising popularity. The company intends to enhance the safety and comfort of mobility in society by utilising its research and manufacturing network inside the nation.
- Samvardhana Motherson International
- Laksh Vaaman Sehgal
- tier 1
Samvardhana Motherson International Raises INR 64.38 Billion
- by MT Bureau
- September 23, 2024
Samvardhana Motherson International, one of the largest automotive component supplier has concluded its capital raise of INR 64.38 billion (USD 771 million approximately) on 20 September, 2024.
The company says it received strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size. Over 95 percent of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investors (FIIs). The issue resulted in the further diversification and strengthening of the shareholder base.
SAMIL states it has become one of the few successful issuers of Equity and Compulsorily Convertible Debentures in a composite issuance (equity of INR 49.38 billion and CCDs of INR 15 billion). The transaction subscription was done at a share price of INR 190/share while the floor price as per SEBI ICDR regulations was INR 188.85/share.
The proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening SAMIL’s balance sheet and enhancing its position to capitalise on various growth opportunities. Some of the proceeds will be used towards general corporate purposes.
Laksh Vaaman Sehgal, Director, SAMIL said, “This transaction reinforces investors' confidence in our robust business model based on our long-term relationships with global OEMs. The success of this transaction is a testimony to investors’ belief in our strategic direction and our execution capabilities, which are based on prudent financial policies while delivering sustained growth and enhanced shareholder value. We remain thankful to our customers and investors for their continued trust in Motherson.”
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