New Delhi: The Disinvestment Ministry expects to mop up about Rs 700 crore from the ensuing public offering in Maruti Udyog Ltd (MUL), taking the total disinvestment realisation for the current financial year to about Rs 4,300 crore.

"I can't give a timetable. But I feel in the current financial year we can complete only Maruti," disinvestment secretary Pradeep Baijal told reporters when asked as to how many companies his Ministry expected to disinvest in the remaining two months of the current financial year.

Baijal said government had already mopped up Rs 1,000 crore from the first phase of disinvestment in MUL (through a rights issue) and expected to realise another Rs 1,400 crore.

"The expected Rs 1,400 crore would be spread over the next two stages of disinvestment in MUL," Baijal said adding in the ensuing initial public offering (IPO), it expected to mop up Rs 700-800 crore.

The disinvestment realisation in the current fiscal has already touched Rs 3,500 crore till now, Baijal, who was speaking on the sidelines of an All India Management Association seminar, pointed out.

Baijal said that Disinvestment Ministry expected to conclude Maruti IPO by March 17.

The public issue is the second stage of disinvestment in MUL where the joint venture partner Suzuki Motor Corporation had agreed to give an underwriting of Rs 2,300 a share as part of the agreement and government had decided to offer 25 per cent equity by March 2003 through an IPO. The remaining is to be sold in the next financial year.

PTI