Maruti Udyog Ltd's public issue has received bids for 2.76 crore (27.6 million) shares on the fourth day on Monday, resulting in an oversubscription of almost four times.

The issue of 7.22 crore (72.2 million) shares through the book building route has so far received cumulative bids aggregating 27.82 crore (278.2 million) shares with the maximum bids ranging between Rs 115 and Rs 125 per share, merchant banking sources said in Mumbai.

The largest number of bids continued to be at Rs 120 per share as against the floor price of Rs 115 per share, they said.