Bank of Maharashtra allots 105150787 Equity Shares to Government of India on Preferential Basis

On receipt of the funds from the Government of India, the Board of Directors of Bank of Maharashtra at its meeting held on October 15, 2015 has issued and allotted 10,51,50,787 Equity shares of Rs. 10/- each for cash at the issue price of Rs. 37.47 per Equity share (including premium of Rs. 27.47 per share) on Preferential basis to Government of India (President of India).

The Equity shares so allotted shall rank pari-passu with the existing equity shares of the Bank including Dividend, if any and will be locked in for a period of three years from the date of receipt of trading approval from Stock Exchanges, as per the SEBI (ICDR) Regulations, 2009.

Shares of BANK OF MAHARASHTRA was last trading in BSE at Rs.34.7 as compared to the previous close of Rs. 34.75. The total number of shares traded during the day was 13947 in over 97 trades.

The stock hit an intraday high of Rs. 35.3 and intraday low of 34.65. The net turnover during the day was Rs. 487137.

Source : Equity Bulls

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