Pune: Bank of Maharashtra, has successfully raised capital of Rs 1000 crores (Base Issue Rs 500 Crore and Green Shoe Option of Rs. 500 Crore) through Qualified Institutional Placement (QIP). The QIP opened on June 1st, 2023 and closed on June 6th, 2023. The Board of the bank had approved the issue of Equity Shares to Qualified Institutional Investors @ Rs. 28.50 per Equity Share (with a Share Premium of Rs. 18.50 per Equity Share).
Bank of Maharashtra – Head Office Pune.
The QIP was fully subscribed and received a strong response from Domestic as well as Foreign Institutional Investors, highlighting a well-diversified representation and demand from across the globe.
The Capital raised through QIP will not only strengthen the Capital Adequacy Ratio of the Bank but also support growth.
