Maithan Alloys Limited has informed the Exchange about acquisition of Equity Shares through Stock Exchange.
MAITHANALL · price
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Awaiting price reaction for this filing.
Maithan Alloys Limited has acquired 16,48,000 equity shares (0.04% shareholding) of Bank of India on 6th January 2026 for a total cost of Rs. 25.04 Crore through the stock exchange. The acquisition was made as a cash investment to earn long-term or short-term investment benefits, and is not a related party transaction. The company has clarified it does not intend to acquire control of Bank of India, which is a large public sector bank with a turnover of Rs. 70,826 Crore and a net worth of Rs. 65,642 Crore as of FY25. The disclosure was filed because the acquisition triggered the SEBI LODR threshold reporting requirement.
This is a small, passive investment (just 0.04% stake) by Maithan Alloys in Bank of India and is unlikely to have any material impact on either company's stock price. It signals that Maithan Alloys is parking some of its surplus cash in listed equities, which is a treasury activity rather than a strategic move.