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13-Dec2017

Bank of Maharashtra to raise up to Rs 313.55 crore through QIP

Bank of Maharashtra has received an approval to allot over 12 crore shares under Qualified Institutional Placement (QIP) in order to raise up to Rs 313.55 crore.

The Equity Issue Committee of the Board of Directors of the Bank at its meeting held approved the allotment of 12,27,21,827 equity shares to eligible Qualified Institutional Buyers at the issue price of Rs 25.55 per share, aggregating to Rs 313.55 crore.

Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The bank also offers services to agricultural and SME sectors.




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