Government has infused Rs 205 crore in Bank of Maharashtra in lieu of preferential allotment of shares. The capital infusion was done on March 30, 2019.
The issue committee of the bank in its meeting held on March 30, 2019 issued and allotted 15,47,16,981 equity shares of the bank for cash at an issue price of Rs 13.25 per share aggregating to Rs 205 crore on preferential basis to the government. Following the allotment of shares, the shareholding of the government has increased to 87.74 percent in the bank from 87.01 percent earlier.
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.
