Bank of Maharashtra (BoM) is planning to raise Rs 1,500 crore through bonds to fund business growth. The lender intends to raise the funds through private placement of Basel-III compliant tier II bonds.
The issue size is Rs 250 crore with a green shoe option of Rs 1,250 crore. The tenure of the bonds is going to be 10 years. The bond auction date is September 14, while allotment to bidders would be made on September 18.
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.
| Company Name | CMP |
|---|---|
| SBI | 1080.35 |
| PNB | 114.50 |
| Canara Bank | 142.35 |
| Bank Of Baroda | 280.00 |
| Union Bank Of India | 188.90 |
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