India proposes significant share sale in Bank of Maharashtra

The President of India, acting through the Department of Financial Services, Ministry of Finance, has announced a proposed Offer for Sale (OFS) of equity shares in Bank of Maharashtra. The base offer size is up to 38,45,77,748 equity shares, representing 5% of the total issued and paid-up equity share capital. There is also an oversubscription option for an additional 7,69,15,549 equity shares, or 1% of the capital.

The OFS will take place over two trading days: December 2, 2025 (T day) for non-retail investors and December 3, 2025 (T+1 day) for retail investors, employees, and non-retail investors carrying forward un-allotted bids. An additional 75,000 equity shares may be offered to eligible employees, with bids up to ₹500,000. The floor price for the offer is set at ₹54.00 per equity share.

A minimum of 10% of the offer shares are reserved for retail investors, and 25% for mutual funds and insurance companies, subject to valid bids at or above the floor price. The allocation will occur on a price priority basis, with a cut-off price determined by non-retail bids on T day. Ambit Capital, Equirus Securities, and SBICap Securities are the brokers for the seller.