Maithan Alloys Limited has informed the Exchange about acquisition of Equity Shares through Stock Exchange.
MAITHANALL · price
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Maithan Alloys Limited acquired 14,91,500 equity shares (0.02% shareholding) of Canara Bank on 16th March 2026 for a total cost of Rs. 19.88 Crore through a cash, arms-length transaction on the stock exchange. The acquisition is part of the company's investment portfolio to gain long-term or short-term investment benefits, and the company has stated it does not intend to seek control over Canara Bank's management. Canara Bank is a major public sector bank with a turnover of Rs. 1,19,755 Crore (FY25) and net worth of Rs. 88,241 Crore. This is purely a treasury/investment activity and not a related party transaction.
This is a minor portfolio investment (0.02% stake) and should not have a meaningful impact on Maithan Alloys' core ferro-alloys business or its stock price. Shareholders may note that the company is deploying roughly Rs. 19.88 Crore of its cash into listed equities, which represents a treasury allocation decision rather than a strategic shift.