The government has decided to divest up to 6 per cent stake in state-owned Bank of Maharashtra through an Offer for Sale commencing on Tuesday.

At the current market price, the government would be able to garner about Rs 2,600 crore by offloading up to 6 per cent stake in the bank.

"Offer for Sale in Bank of Maharashtra (BOM) opens tomorrow for Non-Retail investors. Retail investors can bid on Wednesday. Government offers to disinvest 5% equity in the bank with an additional 1% as a green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.

The government currently holds a 79.60 per cent stake in the Pune-based bank.