Three state-owned banks—UCO Bank, Punjab & Sind Bank, and Indian Overseas Bank—are likely to sell shares to financial institutions in the upcoming fiscal year to raise capital and comply with minimum public shareholding (MPS) norms set by the stock market regulator, sources familiar with the discussions said.
The government currently holds over 95% stake in these banks, with the remaining shares owned by public investors. As per MPS regulations, all listed companies in India must maintain at least 25% public shareholding. The planned share sale aims to align these banks with the regulatory requirements while bolstering their capital base.
Nationalized Banks in India (Govt Shareholding As of September 30, 2024)
- State Bank of India – Government shareholding: 57.51%
- Bank of Baroda – 63.97%
- Union Bank of India – 74.76%
- Punjab National Bank – 70.08%
- Canara Bank – 62.93%
- Punjab & Sind Bank – 98.25%
- Indian Bank – 73.84%
- Bank of Maharashtra – 86.46%
- Bank of India – 73.38%
- Central Bank of India – 93.08%
- Indian Overseas Bank – 96.38%
- UCO Bank – 95.39%
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