Bank of Maharashtra (BoM) shares slipped over 2% ahead of the government’s planned stake sale through an Offer for Sale (OFS), which opens on Tuesday for non-retail investors. Retail investors will get their bidding window on Wednesday.
The Centre will divest up to 6% equity in the bank—comprising a base offer of 5% and an additional 1% green-shoe option. At current market prices, the stake sale is estimated to fetch around ₹2,600 crore.
Announcing the development, DIPAM Secretary Arunish Chawla wrote on X, “Offer for Sale in Bank of Maharashtra (BOM) opens tomorrow for Non-Retail investors. Retail investors can bid on Wednesday. Government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option.”
The government currently owns 79.60% in the Pune-based lender. Post the stake dilution, its holding will fall below the 75% mark, enabling BoM to align with SEBI’s requirement that all listed companies maintain a minimum 25% public shareholding. Public sector enterprises have been given time until August 2026 to comply with this mandate.
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