Central Bank of India OFS: Retail Bids Open May 25

What the OFS is and why it matters

Retail investors can bid for the Central Bank of India Offer for Sale (OFS) on Monday, May 25, after the non-retail window opened on Friday, May 22, 2026. The Government of India is selling a 4% stake in the lender, with a greenshoe option to sell an additional 4%. The stake sale is being done through the OFS route on the NSE and BSE. The stated objective is to help meet SEBI’s minimum public shareholding norms for listed companies. The floor price has been fixed at Rs 31 per share.

Stake sale size: base offer and greenshoe option

Under the offer document, the government proposed to sell 36,20,56,051 equity shares, representing 4% of the total issued and paid-up equity share capital of the bank. The OFS also includes an oversubscription option of an additional 36.20 crore shares. If the greenshoe option is fully exercised, the total stake sale can go up to 8%. Market estimates in the provided material indicate that if the entire 8% stake is subscribed, the Centre is expected to raise around Rs 2,456 crore. Another figure mentioned is that the OFS is likely to be worth around Rs 2,455 crore if the green shoe option is exercised, based on the bank’s Thursday closing price.

OFS timeline: when each investor category can bid

The OFS is being conducted over two trading days, with separate bidding windows for non-retail and retail participants. Non-retail investors were allowed to place bids on Day 1, while retail investors and eligible employees can participate on Day 2. Bidding remains open between 9:15 AM and 3:30 PM IST on both days. Non-retail investors also have the option to carry forward unallotted bids to the next trading day for allocation in the unsubscribed portion of the retail category.

Floor price and discount to the prior close

The floor price for the OFS has been set at Rs 31 per equity share. The material notes this is over 8.5% lower than the bank’s Thursday closing price. Another data point cited is a discount of around 9.4% to the last closing price of Rs 33.9. These references frame the floor price as a discounted entry point versus the prior market price, although the final allotment price depends on the OFS bidding outcome.

Retail eligibility and application limits

Retail investors are defined as individual investors whose total application value does not exceed Rs 2 lakh under the OFS framework. Retail investors can bid on May 25 through their broker’s OFS window at or above the floor price of Rs 31 per share. Retail investors can also bid at the cut-off price. The maximum investment per retail investor is Rs 2 lakh as stated in the material.

Retail and employee reservations in the offer

At least 10% of the shares on offer are reserved for retail investors. Under the base offer, the material states that 3.62 crore shares have been earmarked for retail investors, while 32.58 crore shares have been reserved for non-retail investors. In addition, 75 lakh equity shares have been earmarked for eligible employees. Eligible employees may apply for shares worth up to Rs 5 lakh and can also bid in the retail category within the prescribed limits.

Retail discount: what is confirmed

The provided text states that retail investors receive a 5% discount on the OFS allotment price. This discount is mentioned alongside the retail participation details for May 25. The material also notes that 10% of the total offer size is reserved for retail investors. These are the key confirmed mechanics relevant for retail applicants.

Who can participate in the non-retail window

The non-retail window on May 22 is for bids above Rs 2 lakh. The investor set described includes mutual funds, insurance companies, FPIs, banks, NBFCs and other institutional investors. The OFS framework also allows non-retail investors to indicate willingness to carry forward unallotted bids to the retail day. This structure is intended to improve allocation efficiency if part of the retail segment remains unsubscribed.

What happened to the stock when the OFS opened

When the OFS opened for non-retail investors on Friday, the material notes the bank’s scrips rose 0.29% in early trade. The context provided alongside that move is that the issue was open for institutional investors that day, and retail investors and employees would bid on May 25. No broader intraday range or closing performance details were provided in the text.

Key OFS facts at a glance

The figures below are taken directly from the provided material and the offer structure described.

Analyst view mentioned in the material

Sunny Agrawal, Head of Fundamental Research at SBI Securities, is quoted in the material as advising investors to avoid participating in the OFS. The text does not provide further detail on the rationale beyond the recommendation itself. Investors typically weigh such views against their own risk limits, price comfort around the floor price, and the OFS-specific allocation and discount structure.

Conclusion

The Central Bank of India OFS opens for retail investors and employees on May 25, 2026, after the non-retail bidding window on May 22. The government is offering a 4% stake with a 4% greenshoe option at a floor price of Rs 31 per share, with retail investors eligible up to Rs 2 lakh and a stated 5% discount on the allotment price. Bidding will remain open from 9:15 AM to 3:30 PM IST through the stock exchange OFS window on NSE and BSE. The next confirmed step is the retail and employee bidding session on Monday.