Bank of Maharashtra OFS raises ₹2,492 crore for government
pre-market1 source ↓written by the desknot a recommendation
- was oversubscribed
- 1.72 times
- by diluting
- ₹2,492 crore
- by diluting
- 6% stake
- government's holding
- 79.6% to 73.6%
- floor price
- ₹54 per share
The offer-for-sale (OFS) of Bank of Maharashtra was oversubscribed by 1.72 times, allowing the government to raise ₹2,492 crore by diluting its 6% stake. This move reduces the government's holding from 79.6% to 73.6%, ensuring compliance with Minimum Public Shareholding norms set by SEBI. The OFS closed at a floor price of ₹54 per share.
Not investment advice. For informational purposes only.