Maithan Alloys Acquires 0.01% Stake in Bank of India for ₹10.74 Crore
Maithan Alloys Limited acquired 0.01% stake in Bank of India for ₹10.74 Crore on February 12, 2026. This is an investment to gain long-term/short-term benefits, with no intent to control management. Bank of India reported ₹70,826 Crore turnover as of March 31, 2025.
The acquisition represents a small percentage (0.01%) of Bank of India's equity and the investment amount (₹10.74 Crore) is relatively small compared to Maithan Alloys Limited's overall business, suggesting a limited immediate impact.
The acquisition is a strategic investment and does not immediately indicate a positive or negative impact on Maithan Alloys Limited's core business operations. It's a neutral financial move.
Maithan Alloys Limited has announced the acquisition of 0.01% of the equity shares of Bank of India (BoI) for a total cost of ₹10.74 Crore. The transaction occurred on February 12, 2026. The company became aware of the detailed particulars regarding this acquisition on February 13, 2026.
This acquisition is part of Maithan Alloys Limited's investment strategy, aiming to reap long-term and short-term investment benefits. The company explicitly stated that it does not intend to acquire control, directly or indirectly, over the management of Bank of India. The acquisition was conducted at arm's length through the stock exchange, with cash consideration.
Bank of India, a Public Sector Bank, reported a turnover of ₹70,826 Crore and a Profit After Tax (PAT) of ₹9,219 Crore as of March 31, 2025. Its net worth stood at ₹65,642 Crore. The bank is involved in banking activities, including deposit acceptance and credit finance, and is regulated by the Reserve Bank of India. It operates over 5,300 branches in India and has an overseas presence in 10 countries with 22 offices. The information was obtained from Bank of India's website and its financial results for FY 24-25.
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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.