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Maiden public offer on June 9

New Delhi, May 25 (PTI): With the market regulator Sebi clearing its draft prospectus, Maruti Udyog Ltd is likely to open its much-awaited public offering on June 9 and close the books on June 16.

Through the initial public offer for sale of 7.2 crore shares by way of book building route, Maruti will divest 25 per cent of the government equity in the joint venture car company, sources close to the disinvestment process said.

Although the initial public offering is for sale of 7.2 crore shares, the company has a green shoe option of retaining up to 10 per cent in case there is an over-subscription, sources said, adding that the total sale in such a case could be for 7.95 crore shares each with a face value of Rs 5.

The IPO would be preceded by a series of roadshows in India and abroad for wooing the investor community, sources said.

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