To complying with SEBI’s MPS norm: Govt to sell up to 6% stake in Bank of Maharashtra via OFS

The Government plans to sell up to 6 per cent of the total issued and paid up equity share capital of Bank of Maharashtra (BoM) via an offer for sale (OFS) at a floor price of ₹54 per equity share. The OFS will open on December 2 and close on December 3, per the Department of Financial Services notice to the exchanges. The government currently owns 79.60 per cent stake in the public sector bank, with the balance 20.40 per cent being held by the public. SEBI norms As per SEBI’s minimum public shareholding norm, listed companies should have at least 25 per cent public shareholding. So, following the OFS, BoM will be in full compliance of the market regulator’s minimum public shareholding norm. As per the OFS details, the Government proposes to sell up to 38.46 crore shares of BoM (representing 5 per cent of the total paid-up share capital) (Base Offer Size) on Tuesday to non-retail investors and on December 3 to retail investors, employees and non-Retail Investors who choose to carry forward their un-allotted bids from the first day. The OFS also has an option to additionally sell around 7.69 crore shares (representing 1 per cent of the total paid-up capital) (the oversubscription option) through a separate, designated window of the BSE and the NSE. Additionally, 75,000 equity shares may be offered to eligible employees of the Bank. The eligible employees may apply for equity shares amounting up to ₹5 lakh. BoM shares on Monday closed at ₹57.66 a share, down 1.54 per cent over the previous close, on BSE. Published on December 1, 2025