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Maruti likely to get BSE nod for listing by July 1
New Delhi, Jun 29: Following a highly successful response to the initial public offering of shares, car major Maruti is expected to obtain clearance from Mumbai stock exchange by July 1 paving the way for listing of its scrip by the second week of July.
New Delhi, Jun 29: Following a highly successful response to the initial public offering of shares, car major Maruti is expected to obtain clearance from Mumbai stock exchange by July 1 paving the way for listing of its scrip by the second week of July.
The scrip is expected to trade on national stock exchange and Mumbai stock exchange by July 7-8, sources associated with the disinvestment process said.
Although the listing process normally takes a fortnight after all regulatory hurdles are cleared, the BSE has reportedly assured the government that the entire process could be wrapped up by as early as second week of July.
Meanwhile, administrative work towards facilitating allotment of shares continued between registrars, department of company affairs and other agencies.
The public offering of 7.2 crore shares had closed on June 19 with a massive over-subscription of thirteen times.
The Cabinet Committee on Disinvestment headed by Prime Minister A B Vajpayee is expected to meet early next month to finalise the offer price for the shares.
The ministerial panel had earlier recommended offloading the shares at Rs 125 per shares on a face value of Rs five.
Bureau Report
Although the listing process normally takes a fortnight after all regulatory hurdles are cleared, the BSE has reportedly assured the government that the entire process could be wrapped up by as early as second week of July.
Meanwhile, administrative work towards facilitating allotment of shares continued between registrars, department of company affairs and other agencies.
The public offering of 7.2 crore shares had closed on June 19 with a massive over-subscription of thirteen times.
The Cabinet Committee on Disinvestment headed by Prime Minister A B Vajpayee is expected to meet early next month to finalise the offer price for the shares.
The ministerial panel had earlier recommended offloading the shares at Rs 125 per shares on a face value of Rs five.
Bureau Report