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Maruti Udyog shares to be listed on Wednesday

July 08, 2003 20:35 IST

The shares of Maruti Udyog Limited will be listed on Wednesday on the Bombay Stock Exchange and the National Stock Exchange for trading in the secondary capital market.

The securities of MUL would be admitted for dealings on BSE in the list of specified securities (A group) from Wednesday, a BSE release said in Mumbai on Tuesday.

NSE, in a separate communication, said the trading of MUL shares would be in the normal market segment compulsory demat (rolling settlement) for all investors.

The public offfering, through which the Union government offloaded its 7.94 crore MUL shares, was oversubscribed 8.92 times of the total value of issue.

The Centre has announced a price of Rs 125 for each share of Rs 5 and mopped up Rs 993 crore (Rs 9.93 billion). The floor price for the issue was set at Rs 115 per share on the basis of underwriting given by Suzuki Motor Corporation, the joint venture partner in MUL.

Looking at the overwhelming response from small investors, about 60 per cent of shares were allotted to them, while the balance 40 per cent to the institutional investors.

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