Maruti Suzuki India Ltd approves allotment of 1,23,22,514 shares to Suzuki Motor Corporation

The Board of Directors of Maruti Suzuki India Limited, at its meeting held on 24th November, 2023, has approved the allotment of 1,23,22,514 equity shares of the Company to Suzuki Motor Corporation ("SMC") on a preferential basis.

The issue price is INR 10,420.85/- per equity share, (aggregating INR 12,841.1 Crores being consideration other than cash, discharged by the Company for purchase of 100% equity shares of Suzuki Motor Gujarat Private Limited ("SMG") owned by SMC) determined as per Valuation Report dated 17th October, 2023 issued by RBSA Valuation Advisors LLP, the Independent Registered Valuer).

Post the above allotment, Suzuki Motor Corporation, Japan's stake in the company increased from 17,06,28,962 equity shares (56.48%) to 18,29,51,476 equity shares (58.19%).

Shares of Maruti Suzuki India Limited was last trading in BSE at Rs. 10494.00 as compared to the previous close of Rs. 10496.00. The total number of shares traded during the day was 10679 in over 2514 trades.

The stock hit an intraday high of Rs. 10524.15 and intraday low of 10400.00. The net turnover during the day was Rs. 111688269.00.

Source : Equity Bulls

Keywords

MarutiSuzukiIndia INE585B01010 PreferentialIssue SharesAllotment SuzukiMotorCorporation