Maruti Udyog Ltd has fixed a floor price of Rs 115 per share for its initial public offering to divest government's 25 per cent equity stake in the auto major through the book-building route.

The IPO is slated to open on June 12 and close on June 19, the company said in a release in Mumbai on Friday.

MUL said the IPO offer is for sale of 7,22,43,300 equity shares of face value Rs 5 each. This offer would constitute 25 per cent of fully diluted post offer paid up capital of the company.

The government currently holds 45 per cent equity while Suzuki Motor Corporation, the joint venture partner, which holds around 55 per cent stake, has already underwritten the issue at Rs 115 per share, it added.