Motherson Sumi Wiring India Limited (MSUMI) announced that its Board of Directors, in a meeting held on May 29, 2025, has recommended the issue of bonus shares to its shareholders.
This proposal aims to celebrate the 50th Anniversary of the Motherson Group, founded in 1975, and is also based on the company's strong financials for the financial year 2024-25.
Key details of the proposed bonus issue:
- The bonus shares will be issued in the ratio of one (1) equity share for every two (2) existing fully paid-up equity shares held by the members.
- Each bonus share will have a face value of ₹1.
- A sum not exceeding ₹221,05,53,966 (Rupees Two Hundred Twenty One Crore Five Lakh Fifty Three Thousand Nine Hundred and Sixty Six) will be capitalized from the Company's Free Reserves Account as on March 31, 2025, for this purpose.
- Upon allotment, the bonus shares will rank pari passu in all respects with the existing equity shares.
- The post-bonus paid-up equity share capital of the Company will be ₹663,16,61,898 (Rupees Six Hundred Sixty Three Crore Sixteen Lakh Sixty One Thousand Eight Hundred and Ninety Eight).
The proposal requires the approval of shareholders through a postal ballot by way of remote e-voting.
The schedule of events for the postal ballot and e-voting is as follows:
- Cut-off date for sending notice to shareholders: May 30, 2025.
- Voting start date and time: Friday, June 6, 2025, from 09:00 Hours (IST).
- Voting end date and time: Saturday, July 5, 2025, till 17:00 Hours (IST).
- Scrutinizer’s Report and Declaration of results: On or before July 7, 2025.
The company has appointed Mr. D.P. Gupta, Practicing Company Secretary, as the Scrutinizer for conducting the postal ballot/e-voting process. The postal ballot notice and further details are available on the company's website www.mswil.motherson.com.