Bank of Maharashtra, a leading public sector bank, is planning to raise Rs 1,000 crore through bonds to fund business expansion. The bank is expected to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis.
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.