Maruti Suzuki India Ltd.

Maruti Suzuki India’ s board has approved acquisition of 39.13% equity stake from Sumitomo Corporation, Japan and 10% equity stake from Sumitomo Corporation India held in J.J. Impex (Delhi). 34,43,750 equity shares representing 39.13% will be acquired from Sumitomo Corporation, Japan and 8,80,000 equity shares from Sumitomo Corporation India. The consideration to be paid will be Rs 21.73 crore.

After the acquisition, the company shall become the wholly-owned subsidiary of Maruti Suzuki. The objective of the said acquisition is to strengthen customer centric approach of Maruti Suzuki by providing quality service. The Board of directors of the company, in its meeting held on May 13, 2020 has approved the same. 

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.