Bank of Maharashtra to raise capital via FPO
Raising of Long Term Bonds (Infra Bonds) upto an amount of Rs. 10,000 crore in multiple tranches through a public issue or private placement, during FY 2025-26.
Shares of State owned Bank of Maharashtra are in focus as the Bank in its board meeting held has announced that Board of Directors has significantly approved the following disclosures:
1. Raising of Capital upto Rs. 7,500/- crore through Follow-on Public Offer (FPO) / Rights issue / Qualified Institutional Placement (QIP) issue, Preferential issue, ESPS or any other mode or combination thereof and / or through issue of BASEL III Compliant Tier I and Tier II Bonds or such other securities as may be permitted under applicable laws etc., subject to the necessary approvals.
2. Raising of Long Term Bonds (Infra Bonds) upto an amount of Rs. 10,000 crore in multiple tranches through a public issue or private placement, during FY 2025-26.
Shares of Bank of Maharashtra are trading down by 1.76% at Rs 49.65.
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