The rating agency expects operating margins of auto ancillaries to improve by 100-150 basis points (bps) year-on-year (YoY) in FY24, thus returning to pre-covid-19 levels of 11-11.5%.
The company aims to raise up to ₹180 crore through issue of fresh equity shares and up to ₹232 crore via offer for sale by promoters and existing shareholders.
