Bank of Maharashtra Divest
Govt to exercise 1% greenshoe option in Bank of Maharashtra OFS, says divestment secretary
This story was originally published at 16:49 IST on 2 December 2025
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--Divest secy: Govt to exercise 1% greenshoe option in Bk of Maharshtra OFS
--Divest secy: Bk of Maharashtra OFS issue subscribed 400% of base size Tue
NEW DELHI – The government has decided to exercise the greenshoe option to sell an additional 1% in Bank of Maharashtra's offer for sale, after subscription on Tuesday, the first day of the offer exceeded 400% of the base size, Divestment Secretary Arunish Chawla said. Only non-retail investors participated in the offer for sale on Tuesday, and retail investors will bid on Wednesday.
The government had offered to offload a 5% stake in the bank through the offer for sale, with an option to sell an additional 1%. The government has fixed the floor price for the issue at INR 54 per share. Tuesday, the bank's shares ended 0.1% lower at INR 57.57 on the National Stock Exchange.
Including the greenshoe, the government, which holds a 79.6% stake in Bank of Maharashtra, will reduce its stake to 73.6% once the issue concludes on Wednesday. This will help the government meet the Securities and Exchange Board of India's minimum public shareholding norm. According to SEBI, all listed companies must have a minimum public shareholding of 25%.
Bank of Maharashtra reported a net profit of INR 16.33 billion in the September quarter, up 23% on year. The bank's total income rose 17% on year to INR 79.74 billion during the quarter. End
Reported by Krity Ambey
Edited by Saji George Titus
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