According to reports from The Hindu BusinessLine, Maithan Alloys Limited acquired 12,98,500 equity shares of Bank of India on March 13, 2026, for ₹19.82 crore through the stock exchange. The company now holds a 0.03% shareholding in the public sector bank, representing a strategic investment in the financial institution. As per the company's regulatory filing, this acquisition is part of Maithan Alloys' investment strategy in the public sector bank with the view to reap both long-term and short-term investment benefits.
As reported by The Hindu BusinessLine, the acquisition is part of Maithan Alloys' investment strategy in the public sector bank with the view to reap both long-term and short-term investment benefits. The company has explicitly stated it does not intend to acquire control, whether directly or indirectly, of the management of the target entity. This strategic move allows the company to diversify its investment portfolio while maintaining its core focus on manufacturing and exporting value-added manganese alloys.
According to market data reported by The Hindu BusinessLine, Maithan Alloys equity shares closed at ₹926.30 per share on Friday, March 13, 2026, declining 1.48% from the previous close on BSE. Bank of India shares closed at ₹150.05 per share, down 3.04% from the previous session on BSE. The market performance reflects broader sectoral trends affecting both companies' stock prices.
As reported by The Hindu BusinessLine, Maithan Alloys Limited is a company that manufactures and exports value-added manganese alloys. The company has now diversified its investment portfolio to include a stake in the public sector banking sector through this strategic acquisition, marking its expansion into the financial services sector while maintaining its core manganese alloy manufacturing operations.
