Maithan Alloys Acquires 0.01% Stake in Bank of India for ₹10.01 Crore
Maithan Alloys acquired 0.01% stake (645,000 shares) in Bank of India for ₹10.01 Crore on March 12, 2026. This strategic investment aims for long-term benefits. Bank of India's financials as of March 31, 2025, include ₹70,826 Crore turnover and ₹9,219 Crore PAT.
The acquisition represents a very small percentage (0.01%) of Bank of India's shares and the cost is minimal relative to Maithan Alloys' overall operations. Therefore, the immediate impact on Maithan Alloys is likely to be low.
The acquisition of a small stake in another listed entity is a strategic investment. While it doesn't immediately impact Maithan Alloys' core business, it's a neutral financial move without significant positive or negative implications.
Maithan Alloys Limited has announced the acquisition of equity shares in Bank of India through the stock exchange. The acquisition, which triggered a threshold limit under SEBI (LODR) Regulations, 2015, involved purchasing 645,000 shares, representing 0.01% of the shareholding, for a total cost of ₹10.01 Crore.
The event occurred on March 12, 2026, at 3:30 PM, with the company becoming aware of the detailed particulars on March 13, 2026, at 10:20 AM. The shares were acquired as part of Maithan Alloys Limited's investments, with the aim of realizing long-term/short-term investment benefits. The company does not intend to acquire control, directly or indirectly, over the management of Bank of India.
Bank of India, a Public Sector Bank established in September 1906, is engaged in banking activities including deposit acceptance and credit finance, regulated by the Reserve Bank of India. As of March 31, 2025, Bank of India reported a turnover of ₹70,826 Crore, Profit After Tax (PAT) of ₹9,219 Crore, and a net worth of ₹65,642 Crore. The acquisition was done at arm's length and does not involve any promoter or promoter group interest. The consideration was in the form of cash.
What to do with a filing like this
Maithan Alloys Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Maithan Alloys Limited. Read the original for the full detail.