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MUL lists at Rs 158.4 on BSE, Rs 164.9 on NSE
July 09, 2003 11:29 IST
Maruti Udyog Ltd's scrip was listed on Wednesday at Rs 158.40 and Rs 164.90 on the Bombay Stock Exchange and National Stock Exchange, respectively.
The first deal was executed for one share on BSE after MUL managing director Jagdish Khattar rang the ceremonial gong, the exchange spokesperson said in Mumbai.
A total of 36.7 lakh (3.67 million) shares were traded in the first 25 minutes of the session with foreign institutional investors as well as domestic private mutual funds believed to be buyers in the scrip.
The securities of MUL were admitted for dealings in the list of specified securities or A group.
Meanwhile on the NSE, the MUL scrip opened at Rs 164.9 and 74.34 lakh (7.43 million) shares were traded till 1030 IST, according to information available with the exchange.
The public offering, through which the Union government offloaded its 7.94 crore (79.4 million) 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 rupees five 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, joint venture partner in MUL.