The Government of India on 1st December 2025 announced its decision to divest up to 6.0% stake in Bank of Maharashtra (BoM), comprising 5% equity and an additional 1% as a green-shoe option, at a floor price of ₹54.0 per share. Of the total offer size, 10% has been reserved for retail investors, with the remaining allocated to non-retail participants.

On 2nd December 2025, the opening day of bidding for non-retail investors, the Offer for Sale (OFS) received an overwhelming response. The issue was subscribed 4.07 times of the base size, reflecting strong market confidence. Given the oversubscription, the Government has exercised the green-shoe option in full, taking the total divestment to 6.0% of BoM’s paid-up capital. This will ensure that BoM achieves the Minimum Public Shareholding (MPS) norms.

Following today’s successful non-retail bidding, the OFS will open for retail investors and Bank of Maharashtra employees on 3rd December 2025 (Wednesday). The Government encourages eligible investors to participate in the offer and partake in the value creation of our public assets.

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NB/KMN

Government stake sale in Bank of Maharashtra oversubscribed; green shoe exercised, bringing total divestment to 6% and opening to retail investors. Government divestment of up to 6.0% stake in Bank of Maharashtra is structured as a 5% Offer for Sale with a 1% green shoe option at a Rs.54.0 floor price; 10% of the offer is reserved for retail investors to ensure compliance with Minimum Public Shareholding norms. The non retail bidding was subscribed 4.07 times and the green shoe option was fully exercised, taking total divestment to 6.0% of paid up capital, with the OFS opening to retail investors and bank employees thereafter.