Maithan Alloys Acquires 0.01% Stake in Bank of India for ₹9.36 Crore
Maithan Alloys Limited acquired 0.01% stake (602,688 shares) in Bank of India for ₹9.36 Crore on March 11, 2026. The target entity had a turnover of ₹70,826 Crore and PAT of ₹9,219 Crore as of March 31, 2025.
The acquired stake is a very small percentage (0.01%) of Bank of India, and the acquisition cost is relatively low compared to Maithan Alloys Limited's overall financial standing. It is stated as an investment for potential benefits.
The acquisition is a routine investment activity and does not appear to have a significant positive or negative immediate impact on Maithan Alloys Limited's core business operations.
Maithan Alloys Limited has announced the acquisition of equity shares in Bank of India (BOI) through the stock exchange. The acquisition, which occurred on March 11, 2026, at 3:30 PM, resulted in Maithan Alloys acquiring 0.01% of the total shareholding, amounting to 602,688 shares, for a total cost of ₹9.36 Crore.
The company became aware of the detailed particulars regarding this acquisition on March 12, 2026, at 9:30 AM. This disclosure has been made consequent to triggering the threshold limit as prescribed under Regulation 30 of SEBI (LODR), 2015.
Bank of India, a Public Sector Bank, had 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 as of the same date. The acquisition is considered to be at arm's length, with no promoter or group companies having an interest in the entity being acquired, and it does not fall within Related Party Transactions. The shares were acquired as an investment with the view to reap long-term/short-term benefits, and Maithan Alloys Limited does not intend to acquire control, directly or indirectly, of the management of Bank of India. The acquisition is completed, and no further governmental or regulatory approvals are required.
What to do with a filing like this
Maithan Alloys Limited filed this with the NSE as a statutory disclosure, categorised under substantial acquisition of shares and takeovers. 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.