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Maruti Suzuki India informs about outcome of the board meeting

17 Oct 2023 Evaluate

Further to its intimation to the stock exchanges dated 12th October, 2023 and pursuant to Regulation 30(6) read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), Maruti Suzuki India has informed that the Board of Directors of the Company, at its meeting held on 17th October, 2023, approved the acquisition of 12,84,11,07,500 equity shares of INR 10 each representing 100% paid-up equity share capital (‘Purchase Shares’) of Suzuki Motor Gujarat (‘SMG’), owned by Suzuki Motor Corporation, Japan (‘SMC’), for a total purchase consideration of INR 12,841.1 Crores (‘Purchase Consideration’). The Purchase Consideration payable by the Company for such purchase of 100% of SMG’s equity shares shall be discharged by way of issue and allotment of 1,23,22,514 equity shares of the Company having face value of INR 5 each to SMC, at a price of INR 10,420.85 per equity share, on a preferential basis. The proposed transaction is being done at ‘arm's length’, taking into account the valuation report issued by RBSA Valuation Advisors LLP, Independent Registered Valuer, in accordance with the applicable laws. The acquisition of Purchase Shares shall be subject to such regulatory/ statutory approvals as may be required under applicable laws including the approval of the minority shareholders of the Company by way of postal ballot. The disclosure as required under Regulation 30 of the Listing Regulations read with SEBI Circular on Disclosure of material events/information (SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023), concerning the above acquisition is enclosed as Annexure-A. The Board Meeting commenced at 09:30 and concluded at 09:45 am.

The above information is a part of company’s filings submitted to BSE.

Maruti Suzuki Share Price

13404.00 -48.25 (-0.36%)
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