Bank of Maharashtra likely to see promoter stake sale soon: Exclusive

State-run Bank of Maharashtra is likely to see a stake sale by the government to comply with the minimum public shareholding norms, sources with knowledge of the matter told CNBC-TV18.

The stake sale is likely to take place at a discount of over 5% from the Current Market Price (CMP), the sources added.

At the end of the September quarter, the government had a 79.6% stake in the lender. At the current price, the sale of a 5%, could fetch the government close to ₹1,800 crore.

CNBC-TV18 has written to Bank of Maharashtra for a comment. A response is awaited.

Bank of Maharashtra had earlier completed a ₹3,500 crore QIP in October 2024 to strengthen its capital base and move toward meeting public shareholding norms.

PSU Banks have also been in focus recently after Finance Minister Nirmala Sitharaman confirmed last month

that the work has begun on the next phase of consolidation among the state-run lenders.

“We will need to sit and talk with the Reserve Bank of India (RBI) and banks on how they want to take it forward, and also discuss with the RBI how they want to build larger banks,” she said back on November 6.

Shares of Bank of Maharashtra are currently trading little changed, off the highs of the day at ₹58.6. The stock has risen 11.4% so far in 2025.