Auto major Maruti Udyog Ltd's initial public offering continues to ride high with bids for over five crore (50 million) shares coming in on the third day on Saturday.

The issue of 7.2 crore (72 million) shares through the book building route has so far received bids aggregating 25.06 crore (250.6 million) shares with maximum bids falling in the price range of Rs 115-Rs 125 per share resulting in collections of over Rs 2,800 crore (Rs 28 billion).

Maximum bids continued to be at Rs 120 per share as against the floor price of Rs 115 per share, merchant banking sources said adding, today they received subscription for 5.39 crore (53.9 million) shares.

The company would hold its roadshow in Dubai on Sunday in a bid to attract investment from non-resident Indians.

Till Friday, the total bids received by the company stood at 19.67 crore (196.7 million) shares.