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As per a post by the Department of Investment and Public Asset Management (DIPAM) on X, the OFS for non-retail investors was subscribed four times the base size - which is 400%. "Offer for Sale in Bank of Maharashtra received overwhelming response in the markets today. The issue was subscribed 400 percent of the base size. Government has decided to exercise the green shoe option," DIPAM said in its post on X. Bank of Maharashtra offer for sale details The government has decided to sell up to a 6% stake in the PSU bank via the OFS route. Based on the prevailing market price, the stake sale is likely to fetch the government over ₹2,600 crore. "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. The base offer includes 38.45 crore shares, accounting for 5% of Bank of Maharashtra's total equity. An additional 7.69 crore shares-another 1% stake-are available through the green-shoe option, bringing the total offer size to over 46.14 crore shares, or 6% of the PSU bank's equity. The floor price for the Bank of Maharashtra OFS has been set at ₹54 per share, which reflects a 4.5% discount to Tuesday's intraday price of ₹56.57. The government currently owns 79.60% of the bank. Post-OFS, its shareholding will fall below 75%, enabling Bank of Maharashtra to comply with the minimum 25% public shareholding requirement. How to participate in Bank of Maharashtra offer for sale?

1. Start by logging into your trading/demat account with your broker and go to the OFS or Corporate Actions section, depending on what the platform offers.

2. Choose the 'Bank of Maharashtra' OFS under the company name section. 3. Select the retail category, then enter your bid by specifying the number of shares and the price. You can bid at the floor price or any price above it, but not lower. 4. Review your bid details and submit. After completing the necessary authorization, your bid will be successfully placed.