Bank of Maharashtra share price traded flat on Tuesday as the company’s offer for sale opens today. The government has decided to divest up to 6% stake in PSU bank through the OFS route.
At the current market price, the government is expected to raise more than ₹2,600 crore by offloading up to 6% stake in the Bank of Maharashtra.
“Offer for Sale in Bank of Maharashtra (BOM) opens tomorrow for Non-Retail investors. Retail investors can bid on Wednesday. Government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.
Here are the key details of Bank of Maharashtra OFS:
