MoneyWorks4Me

Bank of Maharashtra plans to raise Rs 1000 crore

01 Jul 2016 Evaluate

Bank of Maharashtra is planning to raise Rs 1000 crore to meet capital requirements as per RBI’s Basel III norms to tap future growth opportunities. The bank is seeking shareholders approval to raise this fund by way of FPO/ Rights issue/ QIPs etc. Recently, the bank had raised Rs 500 crore by issue of Basel III Compliant Unsecured Redeemable Non-Convertible Tier II Bonds.

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.

 

Peers
Company Name CMP
State Bank Of India 957.25
PNB 112.00
Bank Of Baroda 232.80
Canara Bank 117.65
Union Bank Of India 168.40
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