Bank of Maharashtra (BoM) is planning to raise up to Rs 1,000 crore from qualified institutions placement (QIP) in the January-March quarter to meet minimum public shareholding (MPS) norms of market regulator Sebi. The bank has initiated the process to meet the norms of Securities and Exchange Board of India (Sebi).
Currently, the government of India holds 90.97 per cent in the bank and the holding is expected to come down to around 85 per cent following share sale. As per the Sebi norms, listed entities are required to have at least 25 per cent public shareholding.
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.
