The Bank of Maharashtra scrip was listed on the Bombay Stock Exchange on Monday and the first trade was struck at Rs 35 for 200 shares.
The Pune-headquartered bank had offered 10 crore (100 million) equity shares of Rs 10 each at a premium of Rs 13 per share.
BoM had tapped the capital market to raise Rs 230 crore (Rs 2.30 billion) through an initial public offering to augment its capital base and raise long-term resources for the business growth.
The 100 per cent book building issue, which had opened on February 25 and closed on March four, was oversubscribed by over 10 times.
The public sector banks' shares would also be listed on National Stock Exchange.