Bank of Maharashtra OFS subscribed 3x; Bajaj Finance sells 2% stake in BHFL

Bank of Maharashtra OFS subscribed 3x; Bajaj Finance sells 2% stake in BHFL

The offer-for-sale (OFS) in Bank of Maharashtra (BoM) saw three times demand than the shares on offer. According to data provided by the BSE, the share sale garnered bids for 1.41 billion shares as against 461.5 million put on the block by the government. Most of the bids came at around ₹55.5 per share as against the floor price of ₹54. Given the oversubscription, the government has exercised the green shoe option in full, taking the total divestment to 6 per cent of BoM’s paid-up capital, an official statement said.