Bank of Maharashtra Ltd Government stake sale and ownership

The central government has conducted an OFS to offload up to 6% stake (base 5% plus 1% greenshoe), with the issue oversubscribed and expected to garner about ₹2,492–2,600 crore at a floor price of ₹54 per share. Post this and a further planned tranche, the government aims to reduce its holding to around 75% to comply with the 25% minimum public shareholding requirement.