Maruti Udyog's public issue, which was oversubscribed nearly 10 times, didn't attract big interest from mutual funds. Though a large number of funds—63 in all—participated in the issue, the industry as a whole just accounted for 4.14 per cent (0.33 crore shares) of the total 7.94 crore shares issued by the company. The car maker's IPO was open for subscription from June 12 to June 19, 2003, with the cut-off price fixed at Rs 125 per share. The Maruti shares will be listed on the NSE and the BSE on July 9 or July 10, 2003.
As for the AMCs, a total of 15 participated in the issue. Franklin Templeton AMC received one-third of the total shares allocated to mutual funds—11.29 lakh shares, spread across 16 schemes. This was followed by SBI and Pru-ICICI AMCs, which got nearly 4 lakh shares each. Among schemes, Franklin India Bluechip got the maximum shares—4.4 lakh shares. But in terms of total net assets, Magnum Balanced had the highest allocation to Maruti's shares—3.95 per cent.