IPO cancellation

Indian auto components maker withdraws IPO

Samvardhana Motherson Finance calls off its $313 million IPO after poor sentiment towards India and concerns about new tax regulations leave the deal only 0.2 times covered.
<div style="text-align: left;"> SMFL is the world's second-biggest maker of wing mirrors </div>
<div style="text-align: left;"> SMFL is the world's second-biggest maker of wing mirrors </div>
May 08, 2012

Indian auto components manufacturer Samvardhana Motherson Finance (SMFL) late Friday called off its initial public offering after poor sentiment towards India made investors stay away from the deal.

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