Govt to invite bids for Maruti shares next week

The government is planning to invite expression of interest from financial institutions (FIs) for selling a part of its remaining stake in Maruti Udyog next week.

"The expression of interest from public sector financial institutions for 8% out of the remaining total 18.28% shares of government in Maruti will be invited next week. The government will offload the remaining 10.28% shares in 2006," sources said.

The advisors for the sale - SBI Capital Markets and Kotak Mahindra - have reportedly arrived at the floor price of Maruti shares keeping the market price as a benchmark.

If the sale of Maruti shares is completed without hiccups, the government may use this mode of disinvestment in other cases too, the sources added.