Bank of Maharashtra wins on fundraising plans


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 .

Powered by Capital Market – Live News

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

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor


About Author

Comments are closed.