New Delhi: As many as 36 banks, financial institutions and mutual funds have put in bids ranging between Rs765 and Rs850 per share against the floor price of Rs 780 for the government''s residual 10.7-per cent residual stake in passenger car market leader, Maruti Udyog Limited.

The total number of bids received were for 3.59 crore shares against the 2.96 crore on offer.

At the floor price, the government would have mopped up Rs 2,250 crore. However, at these prices, the government is likely to raise between Rs2,264.4 and Rs2,516 crore.

The bidders included Life Insurance Corporation (LIC), State Bank of India, Corporation Bank and Union Bank of India.

The highest bid was put in by Corporation bank, followed by LIC, which offered Rs850 a share for 1 crore shares, against. Maruti''s closing price of Rs802.85 on BSE.

"We hope to complete the sale by tomorrow," an official was quoted as having said, when an inter-ministerial group is expected to give final approval for the sale tomorrow.