NEW DELHI -- India's largest carmaker Maruti Udyog Ltd., a unit of Suzuki Motor Corp., will begin roadshows for its initial public offering on May 30, a company spokesman said on Tuesday.
"The roadshows will kick off on May 30 in Bombay and will be addressed by (Suzuki chairman) Mr Osamu Suzuki. That will be followed by a roadshow in Delhi on May 31 and the shows will then proceed to other countries," he said.
The public issue will most likely open in the second week of June and be completed later that month, he added.
Maruti, in which its Japanese parent holds 54.2 percent stake, had a commanding 50.8 percent share of the domestic car market in 2002/03 owing to its small, low-priced cars.
The Indian government, which holds 45.54 percent stake in the carmaker, is selling 25 percent of its stake through a fully book built issue to institutions and the public.