New Delhi [India], December 1 (ANI): The government will open an Offer for Sale (OFS) in Bank of Maharashtra on Tuesday, aiming to divest up to 6% of its stake, the Department of Investment and Public Asset Management (DIPAM) announced on social media platform X.
The bidding will open for non-retail investors on Tuesday, while retail investors can participate on Wednesday. DIPAM stated, “Government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option.”
As of the end of the September quarter, the government held a 79.6% stake in Bank of Maharashtra. In October 2024, the bank had completed a Rs 3,500 crore Qualified Institutional Placement (QIP) to strengthen its capital base and comply with public shareholding norms.
In its June–September quarter of FY26, Bank of Maharashtra reported a 23% year-on-year increase in net profit to Rs 1,633 crore, driven largely by growth in net interest income (NII). The bank’s NII rose 15.71% Y-o-Y to Rs 3,248 crore in Q2FY26 from Rs 2,807 crore in Q2FY25, while the net interest margin (NIM) moderated to 3.85% from 3.98% during the same period.
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