The public issue of Maruti Udyog Ltd continued to receive an overwhelming response on the second day, with the issue being oversubscribed by 4.19 times.
Foreign financial institutions accounted for a major chunk of the bids.
The issue has so far received bids for 30.29 crore (302.9 million) shares as against the issue size of 7.2 crore (72 million) of a face value of Rs 5 each.
Bombay Stock Exchange received over 19.67 crore (196.7 million) bids with the maximum bid at Rs 120 per share compared with the floor price of Rs 115, according to the data available on the BSE while the National Stock Exchange received over 10.61 crore (106.1 million) bids.
Foreign investors are believed to have accounted for most of the bids for MUL's maiden public offer while Indian financial institutions are yet to do so.
The initial public offer for divestment of government's 25 per cent equity through the book-building route in the car joint venture with Japan's Suzuki Motor Corporation would remain open for offers till June 19 as scheduled.