Promoters Of Samvardhana Motherson Pare 4.41% Stake For Rs 3,633 Crore

The promoters of Samvardhana Motherson International Ltd. sold a 4.41% stake for Rs 3,633 crore through an open market transaction on Wednesday.

Sumitomo Wiring Systems Ltd. offloaded 30 crore shares at an average price of Rs 121.1 apiece on the National Stock Exchange, according to bulk deal data.

Details of the buyers were not disclosed. As of December, Sumitomo Wiring Systems held a 14.15% stake in the company.

Japan-based Sumitomo Wiring Systems is among the world's leading producers of wiring harnesses—that connect a car's devices and convey power and signals to every corner of the vehicle.

Shares of Samvardhana Motherson International closed 3.47% lower at Rs 120.90 apiece, compared with a 0.55% rise in the benchmark BSE Sensex.