Bank of Maharashtra withdraws plan to raise funds worth Rs 350 crore through IPDI

Bank Of Maharashtra | Bank - Public | BFSI | BSE: 532525 | NSE: MAHABANK

31 Dec 2012 Evaluate

Bank of Maharashtra has pulled back its plans of raising funds amounting to Rs 350 crore through issue of Tier I Innovative Perpetual Debt Instruments (IPDI). Earlier on December 24, 2012, the bank had informed that it will be raising funds through IPDI worth Rs 350 crore.

The bank posted a rise of 65.32% in its net profit at Rs 166.01 crore for the quarter ended September 30, 2012 as compared to Rs 100.42 crore for the same quarter in the previous year. Total income increased by 25.15% at Rs 2434.09 crore for quarter under review as compared to Rs 1945.01 crore for the quarter ended September 30, 2011.

Peers

Company Name	CMP
State Bank Of India	979.80
PNB	115.75
Bank Of Baroda	234.30
Canara Bank	123.05
Union Bank Of India	176.10
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