<p> Auto component maker Motherson Sumi Systems on Thursday said its board has approved to raise up to Rs 500 crore through issue of securities.</p>.<p>The company, however, did not disclose the reasons for raising the capital.</p>.<p>The committee of directors (administrative matters) of the company's board in its meeting held on April 16, has approved the issuance of listed, secured, redeemable, non-convertible debentures (NCDs), with an aggregate amount up to Rs 500 crore on a private placement basis in one or more tranches, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing.</p>.<p>MSSL, including its subsidiaries and joint ventures, is one of the leading manufacturers of automotive wiring harnesses, mirrors for passenger cars.</p>.<p>It is also a supplier of plastic components and modules to the automotive industry. </p>
<p> Auto component maker Motherson Sumi Systems on Thursday said its board has approved to raise up to Rs 500 crore through issue of securities.</p>.<p>The company, however, did not disclose the reasons for raising the capital.</p>.<p>The committee of directors (administrative matters) of the company's board in its meeting held on April 16, has approved the issuance of listed, secured, redeemable, non-convertible debentures (NCDs), with an aggregate amount up to Rs 500 crore on a private placement basis in one or more tranches, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing.</p>.<p>MSSL, including its subsidiaries and joint ventures, is one of the leading manufacturers of automotive wiring harnesses, mirrors for passenger cars.</p>.<p>It is also a supplier of plastic components and modules to the automotive industry. </p>