Maithan Alloys Acquires 0.03% Stake in Bank of India for Rs. 20.03 Crore

Maithan Alloys Ltd has acquired 1227000 shares of Bank of India, amounting to 0.03% of the bank's total shares, through a stock exchange. The transaction is an investment and Maithan Alloys does not intend to acquire control of the bank. The cost of acquisition was Rs. 20.03 Crore. Bank of India is a public sector bank with over 5300 branches and 69 zonal offices in India, and it also has a presence in 10 countries overseas. The bank caters to a diverse customer base and is regulated by the Reserve Bank of India.