Motherson Sumi Wiring India marks its trading debut

28 Mar 2022 , 05:41 PM

The equity shares of Motherson Sumi Wiring India Limited (MSWIL) were listed today on the BSE and NSE. MSWIL made a debut on the exchange with the ringing of the gong at the BSE.  MSWIL was formed when the domestic wiring harness business was demerged from Motherson Sumi Systems Limited (MSSL). This step affirms Motherson Sumi Wiring India Limited as a domestic wiring harness focused company, which is well equipped to fulfil the current and future needs of its customers in India.

The demerger came into effect from 5th January 2022.

Motherson Sumi Wiring India Limited has a strong parentage from Motherson Sumi Systems Limited (33.4% shareholding) and Sumitomo Wiring Systems, Ltd., Japan (25.3% shareholding). The company is focused on the wiring harness business in India and has built in-house strengths through continued localization.

It is supported in this endeavour by its partner Sumitomo Wiring Systems, Ltd. which helps the company stay abreast with state-of-the-art technologies and in enhancing product quality that delivers lasting value to customers.

Motherson Sumi Wiring India Limited enjoys strong customer relationships with OEMs and will continue with its customer-centric approach to support existing and future requirements of automotive OEMs in India. The company has a product profile that benefits from industry trends such as increased features and electronic content-per-car, changes in emission norms and emerging trends of alternate powertrain, electrification etc.

Commenting on the listing, Mr. Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India Limited said, “This is a very important day for all of us at Motherson. Our wiring harness business in India is the foundation on which the group was built over the years and Motherson Sumi Wiring India will continue to strengthen the capabilities further. With the listing and trading of MSWIL shares, the group reorganization initiated in July 2020 is now completed and Motherson now has two publicly listed companies. I would like to thank our customers and shareholders for their continued trust.”