India’s largest carmaker, Maruti Suzuki, is set to issue shares worth $1.54 billion to its parent company, Suzuki Motor Corporation, to acquire a 100% stake in Suzuki Motor Gujarat Private Limited (SMG). The purchase of the Gujarat plant is part of Maruti’s plan to increase its production capacity to around 4 million cars per target entity due to the growth of the Indian car market and export potential. The acquisition, which excludes Suzuki Motor’s battery manufacturing operations, is expected to be completed by March 31, 2024. Last week, Maruti announced an ambitious capital expenditure plan of approximately $16.7 billion until FY31.
Maruti Suzuki to Issue Shares Worth $1.54 Billion to Buy 100% Stake in Gujarat Plant
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