Maithan Alloys Limited has informed the Exchange about acquisition of Equity Shares through Stock Exchange.
MAITHANALL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Maithan Alloys Limited acquired 12,98,500 equity shares (0.03% shareholding) of Bank of India on 13th March 2026 through the stock exchange, for a total consideration of Rs. 19.82 Crore in cash. The acquisition was made purely as an investment to earn long-term/short-term returns, and the company clarified it does not intend to acquire control over Bank of India's management. Bank of India is a large public sector bank with FY25 turnover of Rs. 70,826 Crore and net worth of Rs. 65,642 Crore. This is not a related party transaction and was carried out at arm's length.
This is a minor investment decision (0.03% stake) by Maithan Alloys in Bank of India and is unlikely to have a meaningful impact on either company's stock price. It signals that Maithan Alloys has surplus cash and is deploying a small portion of it into financial investments outside its core ferro alloys business.