Bank of Maharashtra approves fund raising proposal of upto Rs. 7500 crore

The board of directors of Bank of Maharashtra has approved the proposal for raising of Capital upto Rs. 7,500/- crore through Follow-on Public Offer (FPO) / Rights issue / Qualified Institutional Placement (QIP) issue, Preferential issue, ESPS or any other mode or combination thereof and / or through issue of BASEL III Compliant Tier I and Tier II Bonds or such other securities as may be permitted under applicable laws etc., subject to the necessary approvals.

Shares of Bank of Maharashtra was last trading in BSE at Rs. 67.62 as compared to the previous close of Rs. 65.24. The total number of shares traded during the day was 4187817 in over 10693 trades.

The stock hit an intraday high of Rs. 69.40 and intraday low of 65.24. The net turnover during the day was Rs. 281399643.00.

Source : Equity Bulls

Keywords

BankofMaharashtra INE457A01014 FundRaising Capital