The President of India, acting through the Department of Financial Services, plans to sell up to 38,45,77,748 equity shares of Bank of Maharashtra, representing 5% of the total issued equity. This Offer for Sale (OFS) will occur over two days: December 2, 2025, for non-retail investors, and December 3, 2025, for retail investors. The floor price for the offer is set at ₹54.00 per equity share.
Government to Reduce Stake in Bank of Maharashtra
The Indian government, as the promoter of Bank of Maharashtra, intends to divest a portion of its stake through an Offer for Sale (OFS). Up to 38,45,77,748 equity shares, equivalent to 5% of the bank’s total issued equity, are proposed to be sold.
Offer Details and Timeline
The OFS will be conducted over two trading days:
December 2, 2025: Exclusively for non-retail investors.
December 3, 2025: For retail investors and those non-retail investors who choose to carry forward their un-allotted bids from the first day. Both days will have trading hours from 9:15 a.m. to 3:30 p.m. (Indian Standard Time).
Price and Allocation
The floor price for the OFS has been set at ₹54.00 per equity share. A minimum of 25% of the offer shares will be reserved for Mutual Funds and Insurance Companies. Retail investors will have the option to bid at or above a cut-off price, with a minimum of 10% of the offer shares reserved for the retail category.
Oversubscription Option
In case of oversubscription, the government retains an option to sell an additional 7,69,15,549 equity shares, representing 1% of the total issued equity share capital of the Bank. This option will be exercised based on the demand received.
Employee Offer
Additionally, up to 75,000 equity shares of the Bank may be offered to eligible employees of the Bank through the stock exchange mechanism, subject to approval from the competent authority. The eligible employees may apply for Equity Shares amounting up to ₹500,000.
Brokers Involved
Ambit Capital Private Limited, Equirus Securities Private Limited, and SBICap Securities Limited are acting as the brokers for the sale. SBICap Securities Limited also acts as a Settlement Broker.
Source: BSE