New Delhi: In a landmark milestone that underscores the inherent strength and vision of the Indian entrepreneur, automobile ancillary major, Motherson Sumi Systems Ltd. completed 25 years of listing on the Bombay Stock Exchange (BSE).
To commemorate 25 years of listing, board of directors of the company recommended the issue of bonus shares in the ratio of 1 (one) bonus share against the 2 (two) existing equity shares subject to the approval of the shareholders as announced on September 7, 2018.
In over two decades since the Motherson stock made its debut on the Indian bourse, the company has grown from strength to strength with the rapid rise in revenues and profits amply reflected in the handsome returns to its shareholders.
On the first day when it was publically traded, the 10-rupee face value Motherson stock had opened at 41 rupees and ended the trading session with a market capitalisation of 238 million rupees. Two and a half decades later, the one rupee face value stock trades at 303.50* rupees with a market capitalisation of 639 billion rupees.
“It has been a momentous journey where the quantum jump in value, as reflected in the stock price, demonstrates the tremendous growth we have achieved – financially, organizationally and as individuals,” said Chairman Vivek Chaand Sehgal.
“As we embark on the next phase of this exhilarating drive, we remain committed to our core values of ensuring customer delight, becoming a globally preferred solutions provider, and enhancing shareholders’ value while staying committed to the highest standards of corporate governance,” added Sehgal.