Samvardhana Motherson International Limited has issued a notice to its holders of 6.50% Compulsorily Convertible Debentures (CCDs), detailing the entitlement date and conversion procedure. The notice informs debenture holders about the window to convert their CCDs into equity shares, effective from September 30, 2026. It outlines the conversion windows, required documentation, and the mandatory conversion process for any remaining debentures by the maturity date.
Key Dates and Conversion Windows Announced
Samvardhana Motherson International Limited has provided crucial information to its holders of 6.50% Compulsorily Convertible Debentures (CCDs), bearing ISIN INE775A08105. The company has informed debenture holders about the Entitlement Date, which is set for September 30, 2026. From this date, holders will be entitled to convert their CCDs into equity shares of the company.
The notice specifies distinct conversion windows. Holders can exercise their option to convert during the first seven days after the Entitlement Date, from October 1, 2026, to October 7, 2026. Subsequent conversion windows are available at the end of each calendar quarter, excluding the final quarter before maturity. The CCDs will be automatically and compulsorily converted on the Maturity Date, September 20, 2027, regardless of any action by the holder.
Conversion Mechanics and Requirements
Debenture holders have the flexibility to convert all or a portion of their CCDs. The company will process all conversion notices received within a specific window and the conversion will occur on the 8th day following the commencement of that window or the end of the relevant calendar quarter. The conversion price is determined by a formula outlined in the Placement Document, with adjustments made for bonus issues. Any accrued interest on converted CCDs will be paid within seven working days of the Conversion Date.
To facilitate the conversion, CCD holders are required to submit a comprehensive set of documents. This includes a duly completed Conversion Notice, corporate authorization, copies of incorporation and commencement certificates, PAN details, and demat account information. For non-resident holders, specific tax-related documents may also be necessary. The company also clarified the process for handling fractional amounts, which will be paid in cash.
Contact and Further Information
The company has designated the Company Secretary and Compliance Officer for any clarifications. Interested parties can reach out via email at [email protected] or by phone at 022-61354800. The detailed terms and conditions are available in the Placement Document, and in case of any discrepancies, the terms of the Placement Document will prevail.
Source: BSE
