The Government is set to divest up to 6 percent of its total issued and paid-up equity share capital in Bank of Maharashtra (BoM) through an offer for sale (OFS) with a floor price of ₹54 per equity share. According to a notice from the Department of Financial Services to the exchanges, the OFS will open on December 2 and close on December 3.
Currently, the government holds a 79.60 percent stake in the public sector bank, while the remaining 20.40 percent is owned by the public. Following the OFS, BoM will comply with the Securities and Exchange Board of India (SEBI) minimum public shareholding regulation, which mandates that listed companies maintain at least 25 percent public ownership.
The details of the OFS indicate that the Government plans to sell up to 38.46 crore shares of BoM, representing 5 percent of the total paid-up share capital, primarily to non-retail investors on December 2 and to retail investors, employees, and non-retail investors who choose to carry forward their unallocated bids on December 3. Additionally, there is an option to sell approximately 7.69 crore shares, representing 1 percent of the total paid-up capital, through a designated window on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Eligible employees of the bank will also have the opportunity to apply for up to 75,000 equity shares, with a maximum limit of ₹5 lakh per employee. On December 1, BoM shares closed at ₹57.66 each, reflecting a decline of 1.54 percent from the previous close.
The article was published on December 1, 2025.
