Floor price fixed at Rs 750 per share for Govt146;s Maruti stake

The Centre has fixed the floor price at Rs 750 per share for offloading its residual stake in Maruti Udyog Ltd. According to an official, 36 bidders which include state-run banks, private banks and mutual funds have expressed interest and offered bids ranging from Rs 765 to Rs 850 per share. Bids were received for a total of 3.59 crore shares against the 2.96 crore that are on offer. The government is likely to raise around Rs 2,500 crore through the sale.

Companies like Life Insurance Corp, State Bank of India, Corporation Bank and Union Bank are amongst the top runners for the stake. The highest bid came from Corporation Bank, followed by LIC, which offered Rs 850 per share for one crore shares, sources said.