Maithan Alloys Acquires 0.03% Stake in Bank of India for ₹19.82 Crore
Maithan Alloys Limited acquired 12,98,500 shares, representing 0.03% of the equity, in Bank of India for ₹19.82 Crore on March 13, 2026. This acquisition is part of the company's investment strategy and does not involve gaining control of the target entity.
The acquisition amount of ₹19.82 Crore is a small fraction of Maithan Alloys Limited's overall operations and is unlikely to have a significant impact on its financial performance. The acquired stake in Bank of India is also very minor.
The acquisition is a strategic investment and does not immediately indicate a positive or negative financial impact for Maithan Alloys Limited. It is a routine disclosure of a threshold trigger.
Maithan Alloys Limited has announced the acquisition of equity shares in Bank of India (BoI), a listed entity, through the stock exchange. The acquisition was made consequent to triggering the threshold limit prescribed under Regulation 30 of SEBI (LODR), 2015.
The event occurred on March 13, 2026, at 3:30 PM, with the company becoming aware of the detailed particulars on March 14, 2026, at 5:40 AM. The total cost of this acquisition was ₹19.82 Crore, and it represents a 0.03% shareholding, amounting to 12,98,500 shares.
Bank of India is a Public Sector Bank with a turnover of ₹70,826 Crore and a PAT of ₹9,219 Crore as of March 31, 2025. The shares were acquired through the stock exchange as an investment by Maithan Alloys Limited, aiming for long-term or short-term investment benefits. Maithan Alloys Limited does not intend to acquire control, directly or indirectly, over the management of Bank of India. The acquisition was done at arm's length, and no further governmental or regulatory approvals are required. The acquisition is considered complete.
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.