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Sundram Fasteners Ltd. Capital/Financing Update 2024
61204_rns_2024-01-11_09f03eae-8fa0-4410-9db3-0324d191df26.pdf
Capital/Financing Update
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Sundram Fasteners Limited REGISTERED & CORPORATE OFFICE
Email: [email protected] DR. RADHAKRISHNAN SALAJ,
98-A, VII FLOOR MYLAPORE, CHENIslAl - 600 004, INDIA TELEPHONE +91 - 44 - 28478500 PAN : AAACS8779D CIN : L35999TN1962PLC004943 WEBSITE : www.wndrom.com
January 11, 2024
National Stock Exchange of India Limited
Scrip Code - SUNDRMFAST Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051
BSE Limited
Dear Sir/ Madam,
Scrip Code - 500403 Phiroze Jeejeebhoy Towers, Dalai Street, Fort, Mumbai - 400 001 By NEAPS
By Listing Centre
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations, 2015)
Pursuant to Regulation 30 of the SEBI LODR Regulations, 2015, we wish to inform you that the Company has entered into a Memorandum of Understanding with the Government of Tamil Nadu during the Tamil Nadu Global Investor Meet held on January 8, 2024.
We enclose a press release in this regard.
Kindly take the above information on record.
Thanking you,
Yours truly,
For SUNDRAM FASTENERS LIMITED
GOPALAKRISH NAN ANAND BABU Digitally signed by GOPALAKRISHNAN ANAND BABU DN: c=IN, o=PERSONAL, pseudonym=1b9d840335d8d8c7113000016c0b8ea7, 2.5.4.20=07668DD41DBDBC182257883E9253F4EA22 664287120176D745BE4CCB77AB2419, postalCode=600088, st=TAMIL NADU, serialNumber=d811bcbc1cbb3cba3dd81d6257a1cf8a 5124dfbda9c6413927acd1a52c08d79b, cn=GOPALAKRISHNAN ANAND BABU Date: 2024.01.11 15:08:43 +05'30'
G Anand Babu Senior Manager — Finance & Company Secretary
Sundram Fasteners Limited
Email: [email protected]
REGISTERED & CORPORATE OFFICE 98-A, VII FLOOR DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAJ - 600 004, INDIA TELEPHONE : +91 - 44 - 28478500 PAN AAACS8779D ON L35999TN1962PLC004943 WEBSITE ve.we.sundram.com
PRESS RELEASE
Sundram Fasteners Limited enters into MoU with Government of Tamil Nadu for INR 1,411 crore investment.
Chennai, January 10, 2024: Sundram Fasteners Limited, one of the largest suppliers to OEMs and automakers globally, entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of INR 1,411 crores during the Tamil Nadu Global Investors Meet 2024, Chennai.
The investment is proposed to be made in Sundram Fasteners Limited factories across Tamil Nadu situated at Padi; Mahindra World City, SEZ; Velappanchavadi; Gummidipoondi; Hosur; Aviyur, Madurai and Mittamandagapattu, Villupuram. Among the aforementioned, the investments made in Mahindra World City, SEZ fall under both the Industrial Policy and the EV Policy.
The planned investment spans up to 2027-2028 and will be used for capacity expansion of existing products, including components for electric vehicles. This strategic move solidifies the company's commitment to the state's economic development, generating employment opportunities for over 1500 individuals in Tamil Nadu.
Ms Arathi Krishna, Managing Director, Sundram Fasteners Limited said, "We have a supportive government that prioritizes innovation and industrialization, making Tamil Nadu an attractive destination for investors. With this strategic investment, we are proud to expand growth opportunities and reach new milestones. We are grateful to the Government of Tamil Nadu for their unwavering support, which has played a crucial role in our success. As we move forward, we remain committed to producing and delivering high-quality products, creating a positive impact on our community, and contributing to the State's overall economic prosperity."
About Sundram Fasteners
Sundram Fasteners Limited, a Company headquartered in Chennai, has established a track record of leadership over 60 years. With a diversified product line, world-class facilities in 3 countries and motivated team of talented people, Sundram Fasteners has become a supplier of choice to leading customers in the automotive segments worldwide.
The product range consists of high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, tappets, iron powder, powertrain components and sub-assemblies. Over the years, the Company has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly.
For further information, please contact:
Mr T E Narasimhan, Adfactors PR Email: [email protected], Ph: +91-98417-34134