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Bank of Maharashtra raises Rs 710 crore from bonds to fund business growth

07 Sep 2022 Evaluate

Bank of Maharashtra (BoM) has raised Rs 710 crore from bonds to fund business growth. The fund raised via Basel III compliant Additional Tier 1 (AT1) bonds of Rs 710 crore (including green shoe option of Rs 610 crore) is at a coupon rate of 8.74 per cent.

The issue garnered overwhelming response from investors with subscription of 10 times against base issue size of Rs 100 crore. The capital raised through the AT1 bonds will support the business growth of the bank.

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 962.40
PNB 112.90
Bank Of Baroda 233.45
Canara Bank 119.20
Union Bank Of India 170.30
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