Bank of Maharashtra Divest
Divest secy says Bank of Maharashtra now minimum public float norm compliant
This story was originally published at 19:26 IST on 3 December 2025
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NEW DELHI – Bank of Maharashtra's offer for sale was subscribed 1.72 times by retail investors on the second day, Divestment Secretary Arunish Chawla said on microblogging site X. "With this, the bank is now minimum public shareholding compliant," he said.
The government had on Tuesday announced that it will exercise the greenshoe option to sell an additional 1% in Bank of Maharashtra's offer for sale. 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%.
Including the greenshoe, the government's stake in Bank of Maharashtra will come down from 79.6% to 73.6%.
Under the Securities and Exchange Board of India's regulations, all listed companies must have a minimum public shareholding of 25%.
The government had fixed the floor price for the issue at INR 54 per share. Wednesday, the bank's shares ended 1.6% lower at INR 56.64 on the National Stock Exchange.
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 Sagar Sen
Edited by Saji George Titus
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