Govt initiates Maruti stake offload plan

The government has set in motion the process to offload its remaining shares in Maruti Udyog.

"We have offered to the finance ministry to sell the 10.24% stake that the government has in Maruti and now it is up to them to take the call," Union Heavy Industries Minister Sontosh Mohan Dev said today.

The government had sold 8% shares in Maruti for more than Rs 1,500 crore last year.

The cabinet will take a final decision to divest the remaining 10% stake in Maruti. Following the cabinet approval, an inter-ministerial group would discuss the modalities of divestment.