The government today invited expression of interest (EoI) from public sector financial institutions and banks to sell 8% stake in Maruti Udyog (MUL) out of its remaining holding of 18.28%. The government has also said that it was open to sell the entire shares on offer to a single bidder.The government currently holds 5,28,24,020 equity shares in Maruti, and is offering to sell up to 2,31,12,804 shares."Only public sector financial institutions and banks can bid for the shares. Asset management companies and mutual funds managed by these institutions are not eligible for participating in the transaction," an official statement said.The minimum bid value is Rs 10 crore, and a single institution can bid for all the shares on offer, the official statement added.The government has said that the present holding of the institution in Maruti along with shares transferred from the government to it should not exceed 10% equity of MUL on the date of such transfer. Institutions have thus been asked to disclose their exact shareholding in the company.The shares come with a lock-in period of six months, the statement said.
