Bank of Maharashtra Gears Up for Public Shareholding Milestone

State-owned Bank of Maharashtra aims to meet the 25% minimum public shareholding requirement through another fundraising tranche this fiscal year. The bank's Managing Director & CEO, Nidhu Saxena, expressed confidence in reducing government stake, aligning with SEBI's regulations for listed public sector companies.

State-owned Bank of Maharashtra is poised to meet the regulatory mandate requiring a minimum 25% public shareholding, with another fundraising round planned for this fiscal year, according to Managing Director & CEO Nidhu Saxena.

Speaking at the FIBAC 2025 conference, Saxena detailed plans to enhance capital adequacy and reduce the government's holding below 75% through share sales, complying with SEBI rules. Currently, the government holds a 79.6% stake in the bank.

Despite the challenges, Bank of Maharashtra is better positioned compared to other public-sector banks targeted for reduced government stakes. The bank's performance, reflected in a 23% rise in net profit, underlines its resilience amid shifting regulatory landscapes.

(With inputs from agencies.)