Acquisitions14 Feb 2026, 01:11 pm
Maithan Alloys Acquires 0.03% Stake in Bank of India for Rs. 20.08 Crore
AI Summary
Maithan Alloys Ltd has acquired 1234000 shares, representing 0.03% stake, in Bank of India through the stock exchange on 13th February, 2026. The total cost of acquisition was Rs. 20.08 Crore. Bank of India, established in 1906, is a banking institution with over 5300 branches, 69 Zonal Offices, and 13 FGMO Offices in India. It also has overseas presence and caters to a diverse customer base. The acquisition is part of Maithan Alloys' investment strategy and is not intended to acquire control of Bank of India. The shares were acquired at arms length and the acquisition is completed.
Key Highlights
- Maithan Alloys acquired 0.03% stake in Bank of India for Rs. 20.08 Crore
- Acquisition is part of Maithan Alloys' investment strategy
- Bank of India is a banking institution established in 1906 with over 5300 branches in India and overseas presence
- The acquisition is completed and not intended to acquire control of Bank of India
- Shares were acquired at arms length