Suzuki Motor buys shares worth Rs 300 crore in Maruti Suzuki

Suzuki Motor Corporation has bought 345,000 shares of its subsidiary, Maruti Suzuki (MSIL), India’s largest carmaker, for nearly `300 crore from the open market on Tuesday.

The transaction has increased the Japanese company’s stake in Maruti Suzuki to 56.48% from 56.37%. 

The company had last bought shares of Maruti Suzuki in June 2020 in a `204-crore transaction for 284,000 shares.

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Suzuki’s stake in MSIL is valued at `1.45 trillion based on Tuesday’s close of MSIL shares on the BSE at `8515.50. The share buying failed to lift MSIL’s share price, which closed almost at the same level as its Monday close.

With a market share of more than 40% in India, Maruti Suzuki is Suzuki’s biggest and most profitable entity. After rolling out its first car in December 1983, Maruti Suzuki crossed cumulative sales of 25 million in January 2023.

MSIL has the widest product portfolio in India comprising 17 models which are sold through a network of around 3,700 dealerships.