Bank of Maharashtra OFS: Govt to offload up to 6% stake from Tuesday

The government will sell up to a 6% stake in Bank of Maharashtra via an Offer for Sale opening Tuesday for non-retail investors and Wednesday for retail. DIPAM stated the offer is for 5% equity with an additional 1% green shoe option.

Government to Sell Stake in Bank of Maharashtra

The Offer for Sale in Bank of Maharashtra is set to open on Tuesday with the government aiming to sell up to 6% stake via an offer-for-sale, the Department of Investment and Public Asset Management (DIPAM) said in an update on social media post X.

The bid will be open tomorrow for Non-Retail investors, while the Retail investors can bid on Wednesday. "Government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option," DIPAM said.

Notably, at the end of the September quarter, the government had a 79.6% stake in Bank of Maharashtra. Earlier in October 2024, the Bank of Maharashtra had completed a Rs 3,500 crore QIP to strengthen its capital base and move toward meeting public shareholding norms.

Bank's Financial Performance

In its recently released June-September quarter of FY26, Bank of Maharashtra reported a 23% year-on-year increase in net profit to Rs 1,633 crore. The growth was mainly aided by healthy growth in net interest income (NII).

Bank's NII expanded 15.71% Y-o-Y to Rs 3,248 crore in Q2FY26, compared to Rs 2,807 crore in Q2FY25. The net interest margin (NIM) moderated to 3.85% in Q2FY26 from 3.98% in Q2FY25. (ANI)

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