Description

Schedule of activities for the Offer for Sale of BANK OF MAHARASHTRA shares on December 2-3, 2025, with base offer size of 38.46 crore shares and oversubscription option.

Summary

BSE has announced the detailed schedule for the Offer for Sale (OFS) of BANK OF MAHARASHTRA shares scheduled for December 2-3, 2025. The base offer size is 38,45,77,748 shares with an oversubscription option of 7,69,15,549 shares, totaling 46,14,93,297 shares. The floor price is set at Rs. 54.00 per share with a face value of Rs. 10. Institutional and Non-Institutional investors can bid on December 2, 2025 (T Day), while Retail Investors and Employees can bid on December 3, 2025 (T+1 Day). The allocation will follow price priority method.

Key Points

  • Security: BANK OF MAHARASHTRA (Symbol: MAHABANK, Scrip Code: 532525, ISIN: INE457A01014)
  • Base Offer Size: 38,45,77,748 shares with oversubscription option of 7,69,15,549 shares
  • Total OFS Size (including green shoe): 46,14,93,297 shares
  • Floor Price: Rs. 54.00 per share (Face Value: Rs. 10)
  • Retail Reservation: 10% of issue size (3,84,57,775 base + 76,91,555 oversubscription = 4,61,49,330 total)
  • Non-Retail Offer: 34,61,19,973 base shares + 6,92,23,994 oversubscription = 41,53,43,967 total
  • Employee Reservation: 75,000 shares
  • Market Lot: 1 share, Tick Size: Rs. 0.01
  • Allocation Method: Price Priority Method
  • Seller may exercise oversubscription option by 5 PM on December 2, 2025

Regulatory Changes

No regulatory changes introduced. This circular provides operational details for an OFS transaction under existing framework.

Compliance Requirements

For Trading Members and Custodian Members:

  • Must facilitate bidding through designated platforms (iBBS for internet/leased line, RTRMS)
  • Must ensure proper margin collection as per investor category
  • Must process give up/take up requests within specified timelines

Platform Access URLs:

Margin Requirements by Category:

  • Retail Investors (RI/RIC): Bid value up to Rs. 2 lakhs - 100% upfront margin (Cash & Cash Equivalents)
  • Employees (EMP): Bid value up to Rs. 5 lakhs - 100% upfront margin (Cash & Cash Equivalents)
  • Non-Institutional Investors (NII): 100% upfront margin (Cash only)
  • Institutional Investors (MF/IC/OTHS): 100% upfront margin OR 0% margin option (Cash only)

Important Dates

December 2, 2025 (T Day):

  • 9:15 AM - 3:30 PM: Bid entry, modification and cancellation for IC/MF/OTH/NII categories
  • By 5:00 PM: Seller to intimate stock exchanges regarding oversubscription option exercise

December 3, 2025 (T+1 Day):

  • Up to 7:30 AM: Give up/Take up window for Institutional Investor bids with 0% margin
  • 9:15 AM - 3:30 PM: Bid entry, modification and cancellation for RI/RIC/EMP categories
  • 9:15 AM - 3:30 PM: Unallocated bidders from T Day can carry forward and modify bids

December 4, 2025 (T+2 Day):

  • Up to 7:30 AM: Give up/Take up window for unallocated bidders from T+1 Day
  • Settlement for various investor categories

Impact Assessment

Market Impact:

  • High Volume: Total offering of up to 46.14 crore shares represents significant supply in BANK OF MAHARASHTRA stock
  • Price Discovery: Floor price of Rs. 54.00 provides base valuation reference
  • Liquidity: Large OFS size will impact trading volumes and potentially price movements

Investor Categories Impact:

  • Retail Investors: 10% reservation (up to 4.61 crore shares) with T+1 bidding advantage
  • Institutional Investors: Majority allocation (41.53 crore shares) with T Day priority and 0% margin option
  • Employees: Limited quota of 75,000 shares with extended bid value limit of Rs. 5 lakhs

Operational Impact:

  • Trading and custodian members must ensure system readiness for two-day bidding process
  • Different settlement timelines for different investor categories (T+1 and T+2)
  • Give up/take up mechanism allows flexibility for institutional investors and unallocated bidders

Impact Justification

Large OFS of 38.46 crore shares in a public sector bank with specific bidding schedules for different investor categories requires immediate attention from trading and custodian members