Centre eyes ₹13,000 crore via OFS in three state-run banks: Report

The government plans to dilute 8-10% stakes in state-run lenders Punjab & Sind Bank, UCO Bank, and Indian Overseas Bank through offers for sale (OFS), aiming to raise around ₹13,000 crore, Mint reported. The stake sales are intended to help the banks meet Sebi's 25% minimum public shareholding requirement. The Centre currently holds 91-94% stakes in the three lenders.