The OFS opened on December 2 and will close on December 3
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SANTOSH MISHRA
The government’s Offer For Sale (OFS) of Bank of Maharashtra (BoM) equity shares received a bumper response from non-retail investors .
The OFS saw non-retail investors put in bids that were about four times the offer size of 34.61 crore equity shares at an indicative price of ₹55.52 per equity share, according to BSE website.
Referring to the OFS, the Department of Financial Services in its X handle said: “Congratulations to Bank of Maharashtra on an exceptional market response. The Offer for Sale of a 5 per cent government stake, along with a 1 per cent green shoe option, received an impressive 407 per cent bids in the non-retail segment, reflecting strong investor confidence in the public sector banks and robustness of Indian banking sector. “
₹54 per equity share
The government is seeking to sell up to 6 per cent of the total issued and paid up equity share capital of BoM via the OFS at a floor price of ₹54 per equity share.
The OFS opened on December 2 and will close on December 3.
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.
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 will sell up to 38,45,77,748 equity shares of BoM (representing 5 per cent of the total issued and paid up equity share capital of the Bank) (Base Offer Size) on December 2, 2025 to non-Retail Investors and on December 3, 2025 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 7,69,15,549 equity shares (representing 1 per cent of the total issued and paid up equity share capital of the Bank) (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 through the stock exchange mechanism, in accordance with the terms and conditions provided in the OFS Guidelines, subject to approval from the competent authority. The eligible employees may apply for equity shares amounting up to ₹5 lakh.
Published on December 2, 2025
