New Delhi, Dec. 1 -- The Offer for Sale in Bank of Maharashtra is set to open on Tuesday with the government aiming to sell up to 6% stake via an offer-for-sale, the Department of Investment and Public Asset Management (DIPAM) said in an update on social media post X.

The bid will be open tomorrow for Non-Retail investors, while the Retail investors can bid on Wednesday.

"Government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option," DIPAM said.

Notably, at the end of the September quarter, the government had a 79.6% stake in Bank of Maharashtra.

Earlier in October 2024, the Bank of Maharashtra had completed a Rs 3,500 crore QIP to strengthen its capital base and move toward meeting public sharehol...