Bank of Maharashtra wins on fundraising plans

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Bank of Maharashtra rose 1.68% to Rs 18.20 after the bank announced that a board meeting would be held on Thursday, April 28, 2022 to review fundraising plans.

The funds would be raised either through a follow-on public offering (FPO), a rights issue or a qualified institutional placement (QIP), a preferential issue or any other method or combination thereof. and/or through the issuance of Basel-III bonds or other similar securities. as permitted by applicable law.



On the same day, the bank’s board will also consider approving the financial results for the quarter and year ended March 31, 2022.

Bank of Maharashtra is a public sector bank in India. The Indian government held 90.97% of the bank’s capital as of December 31, 2021.

The public bank’s net profit increased by 110.70% to Rs 324.63 crore on an 8.70% increase in total income to Rs 3893.23 crore in Q3 Dec 2021 compared to Q3 Dec 2020 .

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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