CNBC-TV18 Newsbreak Confirmed: Govt to sell up to 6% in Bank of Maharashtra

The government has confirmed its stake sale in Bank of Maharashtra, announcing an Offer for Sale (OFS) that opens tomorrow for non-retail investors, followed by the retail tranche on Wednesday.

The Centre plans to offload 5% equity, with an additional 1% green shoe option, taking the potential disinvestment to 6%. The development confirms CNBC-TV18’s newsbreak earlier today on the forthcoming stake sale to meet minimum public shareholding requirements.

The floor price has been set at ₹54 per share, representing a discount to the current market price.

As of the September quarter, the government held 79.6% in the lender. At current market prices, a 5% stake sale could fetch around ₹1,800 crore for the exchequer.

At the end of the September quarter, the government held 79.6% in the state-run lender. Based on current market prices, a 5% sale could fetch the Centre around ₹1,800 crore.

Bank of Maharashtra had earlier completed a ₹3,500 crore QIP in October 2024 to strengthen its capital base and move toward meeting public shareholding norms.

PSU Banks have also been in focus recently after Finance Minister Nirmala Sitharaman confirmed last month that the work has begun on the next phase of consolidation among the state-run lenders.

“We will need to sit and talk with the Reserve Bank of India (RBI) and banks on how they want to take it forward, and also discuss with the RBI how they want to build larger banks,” she said back on November 6.

Shares of Bank of Maharashtra are currently trading little changed, off the highs of the day at ₹58.6. The stock has risen 11.4% so far in 2025.