Government Set to Raise ₹2,492 Crore as Bank of Maharashtra OFS Sees Strong Demand
Bank meets SEBI’s Minimum Public Shareholding norm with stake dilution
The Government of India is poised to realise ₹2,492 crore from its latest offer-for-sale (OFS) in Bank of Maharashtra, following strong oversubscription on Wednesday. The stake sale marks an important step in aligning the public-sector lender with SEBI’s Minimum Public Shareholding (MPS) requirements.
Key Highlights of the OFS
Stake diluted: 6%
Government holding before OFS: 79.60%
Government holding after OFS: 73.60%
Floor price: ₹54 per share
Funds to be raised: ~₹2,492 crore
With the government’s stake dropping below 75%, Bank of Maharashtra successfully becomes MPS compliant, a crucial regulatory milestone for all listed companies.
Why This Matters
Ensures better market float and liquidity for the stock.
Strengthens governance and transparency by diversifying ownership.
Adds momentum to the government’s broader disinvestment agenda.
Enhances the lender’s visibility and attractiveness among institutional investors.
What This Means for the Market
The OFS saw robust demand—reflecting investor confidence in the bank’s improving balance sheet, digital initiatives, and credit growth trajectory. With public shareholding now compliant, Bank of Maharashtra is better positioned for future capital-raising activities and further institutional participation.
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