Bank of Maharashtra has closed its qualified institutional placement (QIP) in which it raised about Rs 404 crore by allotting over 17 crore shares to eligible investors.
The issue committee of the board approved the closure of ''the issue on July 16, 2021 pursuant to the receipt of application forms for an aggregate of 17,03,37,546 equity shares and the funds of Rs 403.70 crore in the escrow account from eligible qualified institutional buyers (QIBs).''
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.