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Rediff.com  » Business » Govt to sell entire stake in Maruti

Govt to sell entire stake in Maruti

Source: PTI
January 10, 2006 14:25 IST
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The government on Tuesday said it would completely exit Maruti Udyog Ltd.

"We have offered to the finance ministry that it can sell 10.24 per cent stake in Maruti that will be left (after the current round of divestment). It is up to them to decide," Heavy Industry Minister Santosh Mohan Dev said.

The process of sale of 8 per cent shares in the company by the government has reached a final stage. The financial bids have been invited from the public sector financial institutions for the stake.

The last date for submitting the bids is January 11. Bids will be opened on Thursday.

As many as 36 public sector financial institutions, including all the banks and insurance companies, have submitted expression of interest for the shares of Maruti.

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