Bank of Maharashtra approves capital infusion of Rs. 394 crores

The Board of Directors of Bank of Maharashtra at its meeting held on September 01, 2015, has considered and approved the proposal of raising of equity capital upto Rs. 394/- Crore (Rupees Three Hundred and Ninety Four Crore only) by way of Preferential Allotment in favour of Government of India.

Further, the Board has decided to convene an Extra-Ordinary General Meeting (EGM) of the shareholders of the Bank on October 06, 2015. The Relevant Date for ascertaining the issue price pursuant to SEBI (ICDR) Regulations, 2009, as amended, is determined as September 04, 2015.

Shares of BANK OF MAHARASHTRA was last trading in BSE at Rs.34.5 as compared to the previous close of Rs. 34.95. The total number of shares traded during the day was 41333 in over 256 trades.

The stock hit an intraday high of Rs. 34.95 and intraday low of 33.9. The net turnover during the day was Rs. 1425303.

Source : Equity Bulls

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