Maithan Alloys Limited has announced the acquisition of equity shares in Bank of India worth ₹10.74 crore, as disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015. The transaction was completed on February 12, 2026, with the company becoming aware of detailed particulars on February 13, 2026.

Acquisition Details

The acquisition involved 649,700 equity shares of Bank of India, representing 0.01% shareholding in the public sector bank. The transaction was executed through stock exchange operations using cash consideration.

Investment Rationale and Strategic Intent

Maithan Alloys Limited stated that the shares were acquired as part of its investment portfolio with a view to reap long-term and short-term investment benefits. The company explicitly clarified that it does not intend to acquire control, whether directly or indirectly, of Bank of India's management.

The acquisition was conducted at arm's length and does not fall within the purview of related party transactions. Neither the promoter, promoter group, nor group companies have any interest in the acquired entity.

Bank of India Financial Profile

Bank of India, incorporated on September 7, 1906, operates as a public sector bank regulated by the Reserve Bank of India. The bank has demonstrated strong financial performance with consistent growth trajectory.

Historical Performance

Bank of India's Business Operations

Bank of India operates an extensive network comprising over 5,300 branches, 69 zonal offices, and 13 FGMO offices across India. The bank maintains international presence with 22 overseas offices in 10 countries. Its diverse customer base includes individuals, groups and associates, government entities, MSMEs, large corporates, farmers, and start-ups.

The bank's core activities encompass accepting deposits and providing credit finance across various segments, positioning it as a significant player in India's banking sector.

Regulatory Compliance

The disclosure was made consequent upon triggering of threshold limits as prescribed under Regulation 30 of SEBI (LODR) Regulations, 2015. No governmental or regulatory approvals were required for this acquisition, and the transaction has been completed as reported.

Maithan Alloys Limited has acquired equity shares of Bank of Baroda through stock exchange transactions, disclosing the acquisition under SEBI regulations after triggering threshold limits. The transaction was completed on February 12, 2026, with the company becoming aware of detailed particulars on February 13, 2026.

Acquisition Details

The acquisition involved purchasing 664517 shares of Bank of Baroda for a total consideration of Rs. 19.26 crore through cash payment. This represents a 0.01% shareholding in the public sector bank, acquired through stock exchange transactions on February 12, 2026.

Investment Rationale

Maithan Alloys stated that the shares were acquired as part of its investment strategy to reap long-term and short-term investment benefits. The company explicitly clarified that it does not intend to acquire control, whether directly or indirectly, of Bank of Baroda's management. The acquisition does not fall within related party transactions, and the promoter group has no interest in the acquired entity.

Bank of Baroda Financial Performance

Bank of Baroda, incorporated on July 20, 1908, operates as a comprehensive public sector bank offering corporate banking, cash management, financing, lending, treasury solutions, and retail banking services. The bank also provides investment products including mutual funds, insurance plans, and demat services.

Historical Performance

Bank of Baroda has demonstrated consistent growth over the past three years:

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the triggering of threshold limits. No governmental or regulatory approvals were required for this acquisition, as it was conducted through stock exchange transactions at arm's length. Bank of Baroda maintains presence in India with 75 overseas branches across 17 countries.