The country's leading car maker, Maruti Suzuki India announced on Tuesday that it would issue shares worth Rs 12,841 crore to its parent company Suzuki Motor Corporation to acquire 100 per cent equity capital in the latter's Gujarat .
Maruti Suzuki India, the country's top carmaker by sales, is set to issue over 1.23 crore equity shares having a face value of Rs 5 each to Suzuki Motor Corporation as part of its acquisition of a local manufacturing plant from the Japanese automaker
The decision was taken in a meeting held today. MSIL will pay for 100% equity of Suzuki Motor Corporation by alloting approximately 12.32 crore equity shares of the company at a price of Rs 10,420.85 per equity share, on a preferential basis, the filing said.