Daily Brief India: Samvardhana Motherson International Ltd, Tube Investments of India , Samvardhana Motherson Automotive Systems Group BV and more

• Samvardhana Motherson International Ltd (MOTHERSO IN) is looking to raise up to US$780m in its QIP. Together with the offering is a US$270m compulsory convertible debenture (CCD) offering.
• The deal is very well flagged, having gone through rounds of board/shareholder approvals. The QIP has also been covered by domestic media reports.
• In this note, we run the deal through our ECM framework and comment on deal dynamics.

• Tube Investments of India (TIINDIA IN) is focused on clean mobility solutions through its subsidiary, TI Clean Mobility Private Limited. 
• The subsidiary’s Montra Electric 3-wheelers have quickly gained market share in southern India, targeting the last-mile mobility segment. 
• TI’s management is keenly focused on the EV segment, with upcoming launches of e-rickshaws and a new Cargo Version poised to drive substantial growth in the near future.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Samvardhana Motherson International Ltd
• Vedanta Resources