Maruti IPO roadshow starts today

Divestment Minister Arun Shourie, Heavy Industries Minister Subodh Mohite and Osamu Suzuki, chairman, Suzuki Motor Corporation, will kick start the global roadshow for Maruti's initial public offer in Mumbai on Friday.

Uday Kotak, executive vice-chairman, Kotak Mahindra, Jagdish Khattar, managing director, Maruti Udyog and Naresh Narad, secretary, ministry of heavy industries will also be present at the occasion.

There will be a simultaneous float of IPO in international and domestic markets. The issue, which will hit the market on June 12, will be open for a week.

The global roadshows, slated to begin on June 1, will continue till June 16 at key international markets such as London, New York, Boston, Los Angeles, San Francisco and Dubai.

Sources said major foreign institutional investors such as Merrill Lynch, Citi Group, Capital and Alliance have already evinced interest in the IPO.

A dozen-member high-profile team, comprising Khattar, Narad, Meenakshi Sundaram, secretary, ministry of divestment, Osamu Suzuki and representatives of the merchant bankers, Kotak Mahindra, Merrill Lynch and ICICI, will be part of the delegation.

Through the offer of 7.2 crore (72 million) shares through book-building, Maruti will divest 25 per cent  government's equity.