The President of India, acting through the Department of Financial Services, plans to sell a 6% stake in Bank of Maharashtra via an Offer for Sale (OFS). This includes a base offer size of 5% and an oversubscription option of 1%. Additionally, 75,000 equity shares are reserved for eligible employees. The OFS opened on December 2, 2025, for non-retail investors and continued on December 3, 2025, for retail investors and employees.
Offer For Sale Details
The Promoter of Bank of Maharashtra, the President of India, is divesting a portion of its stake through an Offer for Sale (OFS) mechanism. Up to 38,45,77,748 equity shares, representing 5% of the company’s total paid-up equity share capital, are offered in the base size. An oversubscription option to sell an additional 7,69,15,549 equity shares, representing 1% of the total paid-up equity share capital, is also available. The total stake sale amounts to 6%.
Timeline and Investor Categories
The OFS opened on December 2, 2025, for non-retail investors. Retail investors, employees, and non-retail investors who chose to carry forward their un-allotted bids from the first day, could participate on December 3, 2025. This staggered approach aimed to facilitate broad investor participation.
Employee Offer
A portion of the OFS was reserved for eligible employees of the Bank of Maharashtra. A total of 75,000 equity shares were earmarked for employees, subject to regulatory approvals. Individual employees could apply for shares amounting up to ₹500,000.
Shareholding Impact
Prior to the OFS, the Promoter held 6,12,26,27,927 shares, representing 79.60% of the total shareholding. Following the sale of 46,15,68,297 shares, the Promoter’s holding has decreased to 5,66,10,59,630 shares, equivalent to 73.60% of the total shareholding.
Source: BSE