The equity shares of Motherson Sumi Wiring India Ltd. (MSWIL) were on Monday listed on the bourses with the stock closing at a 5% loss to listing price at ₹62.70 a piece on the BSE. MSWIL was formed after the domestic wiring harness business was demerged from Motherson Sumi Systems Ltd. (MSSL). “This step affirms Motherson Sumi Wiring India Ltd. as a domestic wiring harness focused company, which is well equipped to fulfil the current and future needs of its customers in India,” the company said in a statement. The demerger came into effect from January 5 this year Motherson Sumi Wiring India Ltd. has parentage from Motherson Sumi Systems Ltd (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 localisation, it said. 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, the company said. Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India Ltd. said, “ 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 reorganisation initiated in July 2020 is now completed and Motherson now has two publicly-listed companies,” he added. He said Motherson Gtoup would grow through acquisitions as per the needs of its customers. “During the pandemic we have done five acquisitions. Now, we will acquire some medium to large companies. So far all our 29 acquisitions have gone well,” Mr. Sehgal said. He added group companies have reduced their debt significantly and can borrow for organic and inorganic growth.
