Maithan Alloys Limited has informed the Exchange about acquisition of Equity Shares through Stock Exchange.
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Maithan Alloys Limited has informed the exchanges about acquiring 6,49,700 equity shares (0.01% shareholding) of Bank of India through the stock exchange on 12th February 2026. The total cost of acquisition was Rs. 10.74 Crore, paid in cash, on an arm's length basis. The acquisition is purely an investment decision to earn long-term or short-term returns, and the company has clarified it does not intend to gain any direct or indirect control over Bank of India's management. Bank of India is a large public sector bank with a turnover of Rs. 70,826 Crore and net worth of Rs. 65,642 Crore as of FY25, but this is a very small, passive investment by Maithan Alloys.
This is a routine treasury investment and not a strategic acquisition. With only a 0.01% stake, it has no material impact on either Maithan Alloys' business or Bank of India's shareholding structure. Shareholders are unlikely to see any meaningful effect on Maithan Alloys' stock price from this disclosure.