Maruti to issue over 1.23 crore shares on preferential basis to SMC for Suzuki Motor Gujarat buyout

New Delhi: Maruti Suzuki India on Friday said its board has approved the allotment of over 1.23 crore shares to its parent Suzuki Motor Corporation (SMC) on a preferential basis for the acquisition of a 100 per cent stake in Suzuki Motor Gujarat. The company's board has approved the allotment of 1,23,22,514 shares to SMC having face value of Rs 5 each at a price of Rs 10,420.85 per share, the auto major said in a regulatory filing.

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