Govt invites EoI on Maruti disinvestment

New Delhi, Feb 22 (UNI) The government today invited Expressions of Interest (EoI) from financial institutions, banks and mutual funds interested in acquiring the remaining 10.27 per cent of its equity in Maruti Udyog Limited (MUL).

The institutions have been asked to submit their EoI by March 9 to be eligible to bid for 2,96,79,709 shares that is expected to bring in about Rs 2,700 crore to the government at the current market price of the share.

The minimum bid value is Rs 10 crore. Each of the institutions can hold up to 10 per cent of the total paid up capital of MUL.

At the time of submission of bids, institutions are to indicate their exact shareholding in MUL.

The money from the sale would go to the government and not the National Investment Fund (NIF) as MUL is no longer a public sector fund. SBI Capital Markets Limited and Kotak Mahindra Capital Company Limited have been jointly appointed adivsors to the goverment for this transaction.

UNI