Top News

• Government’s decision regarding Bank of Maharashtra
• Sales 54 Rs. per share will be at this rate
• 2,492 crores will be raised by the government

Bank of Maharashtra: The Maharashtra government has initiated the process of selling its 6% stake in Bank of Maharashtra through OFS. This sale is Rs.54. This rate per share was explained to meet the minimum public shareholding criteria of 25%. The sale was proposed on Tuesday. The government’s Offer for Sale (OFS) in state-owned Bank of Maharashtra (BOM) has been opened for non-retail investors.

The government through this OFS will buy its 6% stake at Rs.54. 2,492 per share by selling at this rate. Thinking of raising crores. This step has been taken to meet the 25% minimum public shareholding criteria. This floor price is Rs 57.66 at Monday’s close. It is approximately 6.34 percent less than the price per share. OFS will open for retail investors on Wednesday.

The government plans to raise approximately Rs 2,492 crore by selling its 6% stake in the public sector bank. The base offer comprises 38,45,77,748 shares, which is 5 per cent of the bank’s paid-up share capital. Additionally, 1 per cent stake, i.e. 7,69,15,549 shares, is available under ‘green-shoe’ option. This brings OFS’s total to 46.14 crore shares or 6 percent.

Currently, the government holds 79.60 percent stake in the Pune-based bank. The primary purpose of reducing this stake is to enable the bank to meet the minimum public shareholding standard of 25 percent. The share reduction will reduce the government’s share below 75 percent.

As per the Securities and Exchange Board of India (SEBI) Securities Contracts (Regulation) Regulations, minimum 25% public shareholding is mandatory in all listed entities including public sector companies. However, capital markets regulator SEBI has given CPSEs and public sector financial institutions a deadline of August 2026 to meet this criterion.

Apart from Bank of Maharashtra, Indian Overseas Bank has 94.6 percent stake, Punjab and Sindh Bank has 93.9 percent stake. Also, UCO Bank has 91 percent stake, while Central Bank of India has 89.3 percent stake. In these four banks in the country, the minimum public shareholding of the government is more than 75%.