India government reduces stake in Bank of Maharashtra

The President of India, as the promoter of Bank of Maharashtra, announced an offer for sale of up to 384.58 million equity shares, representing 5% of the total paid-up equity share capital. This "base offer size" was conducted on December 2, 2025 (T day) for non-retail investors and December 3, 2025 (T+1 day) for retail investors and employees.

Additionally, an "oversubscription option" allowed for the sale of up to 76.92 million equity shares, representing an additional 1% of the total paid-up equity share capital. The total sale of shares amounted to 461.57 million, reducing the promoter's holding from 79.60% to 73.60% of the voting capital.

The offer for sale also included 75,000 equity shares for eligible employees, in accordance with SEBI OFS guidelines. Before the sale, the promoter held 6.12 billion shares carrying voting rights, and after the sale, this figure decreased to 5.66 billion shares.