NEW DELHI : Motherson Sumi has said that its Board of Directors have given an in-principal approval to raise up to ₹1,000 crore to enhance liquidity amidst the coronavirus crisis.
In a statement, the company said that its Board has delegated its Committee of Directors to evaluate various borrowing proposals. "To further enhance liquidity in these uncertain times, the Board of Directors has accorded in-principle approval to raise up to ₹10 bn and delegated its Committee of Directors to evaluate and decide on various borrowing proposals.
We are also proactively working to leverage on various government support schemes to enhance liquidity," it said. The company said that as its liquidity was "very strong" by the end of the financial year