Bank of Maharashtra (BoM) has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of Rs 200 crore.
The fund raised through the AT1 bonds will support the business growth of the bank. The AT1 instrument with a coupon rate of 8.74 per cent is perpetual in nature.
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.