Rediff Logo
 Money
Line
Home > Money > PTI > Report
May 14, 2002 | 2130 IST 		Feedback  
  Money Matters

 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      





 Secrets every
 mother should
 know


 Your Lipstick
 talks!


 Make money
 while you sleep.


 Bathroom singing
 goes techno!


 
 Search the Internet
         Tips
 Sites: Finance, Investment

Print this page Best Printed on HP Laserjets
E-Mail this report to a friend

Government clears divestment in Maruti Udyog

The government on Tuesday cleared a proposal for diluting its stake in auto major Maruti Udyog Limited to Japanese partner Suzuki Motor Corporation at a premium of Rs 10 billion.

The proposal was cleared by the Cabinet Committee on Divestment chaired by Prime Minister Atal Bihari Vajpayee, in New Delhi.

The government also approved a share price of Rs 3,280 of share of face value of Rs 100 for the rights issue.

The government's equity will come down to 46 per cent after issuing rights shares and SMC will underwrite the issue.

The size of the rights issue is Rs 4 billion.

ALSO READ:
The Maruti Saga
The Divestment Development
The Rediff Budget Special
Money

Back to top
(c) Copyright 2000 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Tell us what you think of this report

ADVERTISEMENT