Shares of four PSU lenders—Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank—rose significantly on November 19 amid reports of a potential minority stake sale by the Centre to meet public shareholding norms. The Finance Ministry is expected to seek Cabinet approval for the sale, which would occur through an Offer For Sale in the open market, with timing and volume dependent on market conditions. Currently, the government holds over 93% in these banks, and five out of twelve public sector banks have yet to comply with the minimum public shareholding requirement of 25%.
