Shares of Bank of Maharashtra fell as much as 2.6% to ₹56.10 on Tuesday after the Indian government launched an offer to divest up to a 6% equity stake in the state-owned lender.

Key Details of the Stake Sale:

• The offer for sale (OFS) opened for non-retail investors on December 2, with a floor price set at ₹54 per share.
• At this price, the government could raise approximately ₹24.9 billion (~$277.4 million) from the stake sale.
• The total offer includes a greenshoe option of an additional 1%.
• Post-sale, the government's stake will drop below 75% from the current 79.6%, allowing the bank to meet the minimum public shareholding (MPS) norm of 25%.

Stock Performance:
The stock has gained 9.3% year-to-date in 2025, prior to the OFS announcement.

(Exchange rate: $1 = ₹89.7675)