Search
Bank of Maharashtra Plans to Raise Rs. 2,000 Crore
May 25, 2017
In a bid to promote annual business growth and put more funds in the capital conversion buffer as per Basel III requirements, the Bank of Maharashtra is pondering over raising Rs. 2,000 crore through several mediums such as rights issue and follow-on public offer, etc.
BOM will be proposing the idea of funds-raising on its general meeting that’s scheduled for 16 June in Pune.
As per a regulatory filing, the bank said that it will seek the consent of the shareholders to create, offer, and allot equity shares. The funds are proposed to be raised via apublic offer, qualified institutional placement, rights issue, or preferential issue.
