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Stock Report
Bank of Maharashtra to Issue of Upper Tier II Bonds of Rs 200 crore
Posted On : 2007-07-12 05:38:44( TIMEZONE : IST )
Bank of Maharashtra has announced that the Bank has decided to issue Unsecured, Non-convertible Redeemable Subordinated Upper Tier II Bonds in the nature of Promissory Notes to the extent of Rs 200 crore to augment its Capital Adequacy requirements. The bonds will carry coupon rate of 10.35% p.a. for a period of first 10 years with a step-up coupon rate of 10.85% p.a. for the remaining 5 years if call option is not exercised at the end of 10th year from the Deemed date of Allotment.
The issue opens on July 13, 2007; closes on July 23, 2007 and the deemed date of allotment is July 25, 2007.
The stock closed the day at Rs.51.80, down by Rs.0.15 or 0.29%. The stock hit an intraday high of Rs.53 and low of Rs.51.40. The total traded quantity was 138180 compared to 2 week average of 206757.
