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Overwhelming response to Maruti IPO

MUMBAI JUNE 13. The public issue of Maruti Udyog Ltd. continued to receive an overwhelming response on the second day, with the issue being oversubscribed 4.19 times. Foreign financial institutions accounted for a major chunk of the bids.

The issue has so far received bids for 30.29 crore shares as against the issue size of 7.2 crore shares of a face value of Rs. 5 each.

The Bombay Stock Exchange received over 19.67 crore bids with the maximum bid at Rs. 120 per share compared with the floor price of Rs. 115, according to data available on the BSE. The NSE received over 10.61 crore bids. Foreign investors are believed to have accounted for most bids. — PTI

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