Bank of Maharashtra to raise capital upto Rs 7,500 Cr through FPO

The Bank in a board meeting today, April 24, 2023, is going to consider the proposal of raising Capital for the FY 2023-24 aggregating upto Rs 7,500 Crore through Follow-on Public offer (FPO)

Bank of Maharashtra to raise capital upto Rs 7,500 Cr through FPO

New Delhi: Pune-based Public Sector Undertaking, Bank of Maharastra with more than 29 million customers across the country is going to raise the funds for Financial Year 2023-24.

The Bank in a board meeting today, April 24, 2023, is going to consider the proposal of raising Capital for the FY 2023-24 aggregating upto Rs 7,500 Crore through Follow-on Public offer (FPO)/Rights issue/ Qualified Institutional Placement(QIP) / Preferential issue or any other mode or combination of thereof and /or through the issue of BASEL III or such other securities as may be permitted under the applicable laws subject to necessary approvals.

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