Maruti Udyog Ltd, the country''s largest carmaker, has rebranded itself Maruti
Suzuki India Ltd with the registrar of companies having approved the name on 17
Maruti board had approved ''Maruti Suzuki India Ltd'' as the new name in July this
year while the company''s shareholders approved the new name at the annual general
meeting held on September 6 this year, Maruti said in a filing with the Bombay
Stock Exchange (BSE). (See: Maruti Udyog to be
known as Maruti Suzuki India)
rebranding is in keeping with the new shareholding structure of the company ever
since the government of India divested its remaining 10.7-per cent stake in favour
of banks, insurance companies and mutual funds for Rs2,368 crore ($573 million),
leaving the Suzuki as the dominant shareholder with a 54-per cent stake.
the name Maruti has a strong branding in the passenger car segment, Suzuki has
decided to retain it in the new name that it proposes, and just substitute Udyog
with Suzuki and add India. According to the company, the word Suzuki in the name
imparts an international dimension.
Suzuki suffix will help Maruti expand its role in the global markets even as the
company is developing capabilities to assume the role of being Suzuki''s research
and development hub for Asia outside Japan.
on its recent success in Asian and African markets, Maruti is planning to launch
a model for export to Europe in the next couple of years.
leader in Japan''s minicar market for over three decades, it recently positioned
itself as a complete carmaker with the success of its globally strategic models
like Swift, SX4 and Grand Vitara.