Bank of Maharashtra raises Rs. 831 crore

Consequent to the receipt of necessary approvals / permissions, Bank of Maharasthra had today issued and allotted 73,60,49,601 Equity shares of Rs.10/- each of Bank for cash at issue price of Rs.11.29 per share (including premium) to Government of India (President of India) aggregating to Rs.831/- crore on preferential basis. With this allotment, Government of India holding has increased from 92.49% to 93.33%.

The equity shares so allotted shall rank pari passu with the existing equity shares of the Bank including dividend, if any.

Shares of BANK OF MAHARASHTRA was last trading in BSE at Rs.14.76 as compared to the previous close of Rs. 14.09. The total number of shares traded during the day was 996940 in over 1810 trades.

The stock hit an intraday high of Rs. 15.34 and intraday low of 14.2. The net turnover during the day was Rs. 14838207.

Source : Equity Bulls

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