BoM’s OFS draws bids 400% of base issue size

MUMBAI: Bank of Maharashtra’s offer for sale (OFS) drew strong investor interest on the first day, with bids reaching 400% of the base issue size, according to the BSE website, reports Our Bureau. The OFS opened for non-retail investors on December 2 at a floor price of ₹54 per share, a 6.34% discount to the December 1 closing price of ₹57.66 on BSE. The base offer comprised 38.45 crore shares. Given the response, the government will now exercise the green-shoe option, increasing the total stake on offer to 6%.