MUL divestment put on hold
17 Mar 2007
The decision to disinvest in MUL – the third and final sale of the government's stake — was cleared by the Cabinet Committee on Economic Affairs on 21 December, 2006. The government was to sell 2,96,79,709 shares of Rs5 each through competitive bidding and hoped to raise between Rs 2,400 crore and Rs2,800 crore.
When the decision was taken, the Sensex was at 13,384, with the Maruti scrip at Rs926. Since then, the Sensex touched a high of 14,652 on February 8, before declining to the present level of of 12,430. Maruti share closed at Rs779.4.