Maruti Suzuki India Ltd.

BSE: 532500 | NSE: MARUTI
Large Cap | Automobiles - Passenger Cars
16082.90
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Maruti Suzuki to acquire Suzuki Motor Gujarat

Date: 01-08-2023

Maruti Suzuki India’s Board has approved termination of the contract manufacturing agreement with Suzuki Motor Gujarat (SMG) and exercising the option to acquire 100% shares of SMG from Suzuki Motor Corporation (SMC) subject to all legal and regulatory compliances including minority shareholders’ approval.

Presently, SMC holds 100% equity capital of SMG. The acquisition of 100% equity capital by Maruti Suzuki India from SMC is a related party transaction and shall be done according to the prevalent law and regulations. The auto major expects to complete the transaction by March 31, 2024.

Maruti Suzuki India 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.