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PSU Banks May Reduce Government Shareholdings: Here's Why | PSB | Share Market | English News
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Five PSU banks, including Bank of Maharashtra, IOB, and UCO, are planning to reduce the government's stake to less than 75%. This move is aimed at complying with SEBI's minimum public shareholding norms, which mandate that all listed companies maintain a minimum public shareholding (MPS) of 25%. As of March 31, 2023, out of 12 PSU banks, only four were compliant with these norms. However, during the fiscal year 2023-24, three more PSU banks managed to achieve the minimum 25% public float.
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