Bank of Maharashtra allots 107879529 Shares

Out of the 15,33,25,013 equity share issue authorized by the shareholders of Bank of Maharashtra vide Special Resolution passed at the Extra Ordinary General Meeting held on March 26, 2012, the Board of Directors of the Bank, on March 30, 2012 has allotted 8,37,93,902 Equity Shares of Rs. 10/- each at Rs. 56.09 per share aggregating to Rs. 469,99,99,963.18 to the Government of India.

The Board of Directors has also allotted 2,40,85,627 Equity Shares of Rs 10/- each at Rs 56.09 per share aggregating to Rs. 135,09.62,818. 43 to LIC of India and its various schemes.

The Bank of Maharashtra stock closed the day at Rs.54.55, up by Rs.4 or 7.91%. The stock hit an intraday high of Rs.54.75 and low of Rs.51.

The total traded quantity was 1.01 lakhs compared to 2 week average of 0.41 lakhs.

Source : Equity Bulls

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