India raises $ 212 million from top carmaker's IPO

Newswire

NEW DELHI, June 21 (Reuters) - India raised 9.93 billion rupees ($212.6 million) from its heavily oversubscribed initial public offering of shares in the country's largest car maker, Maruti Udyog Ltd -- making it the nation's biggest IPO since 1998. The government said on Saturday that it would allot 79.4 million shares, amounting to a 27.5 percent stake, to investors, after retaining a part of the oversubscription, at 125 rupees apiece. "This has become the first large IPO through the ...

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