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Bank of Maharashtra zooms on planning to raise up to Rs 3,000 crore equity capital

Mumbai : Bank of Maharashtra is currently trading at Rs. 16.10, up by 0.50 points or 3.54% from its previous closing of Rs. 15.55 on the BSE. The scrip opened at Rs. 16.05 and has touched a high and low of Rs. 16.40 and Rs. 15.85 respectively. So far 69366 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20.00 on 30-Apr-2019 and a 52 week low of Rs. 10.73 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 16.75 and Rs. 14.75 respectively. The current market cap of the company is Rs. 9376.82 crore. The promoters holding in the company stood at 87.74%, while Institutions and Non-Institutions held 8.63% and 3.63% respectively. Bank of Maharashtra is planning to raise up to Rs 3,000 crore equity capital through various modes, including follow-on public offer or preferential issuance of shares.

The decision was taken at the bank’s annual general meeting held on June 27, 2019. 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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