Bank of Maharashtra

[UJBOLTE]

Hi guys,
Isn't it strange that the promotes have more than 75% of shares as per the sebi rule they should have 75 or less than that, plus as I can see it's ipo came in 2005

 

[Skylar]

and the Promoter is President of India.

You're right! SEBI regulations generally require listed companies to maintain a minimum public shareholding of 25%. This means promoters and their group can't hold more than 75% of the company's outstanding shares.

However, there is an exception for PSU companies. PSU companies are government-owned or controlled entities. SEBI rules exempt PSUs from the minimum public shareholding requirement. This means the government, as the promoter, can hold more than 75% of the shares in a PSU company.