New Delhi, Dec. 1 -- State-owned lender Bank of Maharashtra is likely to see a stake dilution as the government plans to divest up to a 6% stake through an offer for sale starting Tuesday, December 2.

"Offer for sale in the 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.

At the end of the September quarter, the government held a 79.6% stake in the bank, valued at Rs.35,29,543 crore. Based on the current market price of Rs.57.65, the government could garner about Rs.2,600 crore...