Maithan Alloys Limited has announced the acquisition of 16,48,000 equity shares, representing 0.04% of the total shareholding, in Bank of India (BOI). The acquisition, which was completed on January 6, 2026, involved a cash consideration totaling ₹25.04 Crore. The shares were acquired through the stock exchange as part of Maithan Alloys' investment strategy aimed at reaping 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. Bank of India is a Public Sector Bank regulated by the Reserve Bank of India, with a significant presence of over 5300 branches in India and 22 overseas offices in 10 countries. As of March 31, 2025, BOI reported a turnover of ₹70,826 Crore, a Profit After Tax (PAT) of ₹9,219 Crore, and a net worth of ₹65,642 Crore. The acquisition is not considered a Related Party Transaction, and no promoter or promoter group entities have an interest in the acquired entity. The transaction was conducted at arm's length. Maithan Alloys Limited became aware of the detailed particulars regarding the acquisition on January 7, 2026, at 10:16 AM, following the triggering of the threshold limit as prescribed under Regulation 30 of SEBI(LODR), 2015.
