Government inviting bids to exit Maruti Udyog Limited
February 23rd, 2007 Leave a comment Visited 21 times, 1 so far today
Government inviting bids to exit Maruti Udyog Limited
The Indian government has now invited bids from public sector financial institutions and mutual funds to sell off its remaining 10.27 per cent stake in Maruti Udyog Limited.
They are aiming to bring in Rs 2,700 crore to the exchequer through this sale.
Government bodies expect to complete this sale within this year itself and the last date for Expression of Interest has been kept as March 9.
Market experts believe that the remaining 2,96,79,709 shares in the company would fetch the government close to around Rs 2,700 crore based on the prevailing prices of Maruti shares in the stock market.
The Department of Disinvestment states that the bidders would have to place a minimum bid of Rs 10 crore for the stake.
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