NEW DELHI, Jan 31 (Reuters) - The Indian government plans to complete an initial public offering of shares (IPO) in the country's largest carmaker before the close of this financial year in March, a senior government official said on Friday.
"We're trying to complete the IPO by March 17," Pradip Baijal, the top official in India's Disinvestment Ministry told reporters.
He said the government expects to raise 7.0 billion to 8.0 billion rupees from the stake sale and added the government could complete the IPO only of Maruti, majority-owned by Japan's Suzuki Corp, before the end of this financial year.
"It's unlikely that any other company will be disinvested in this financial year. Only the Maruti IPO can be completed in this financial year," he said when asked about progress in selling aluminium giant NALCO and Shipping Corp .