Bank of Maharashtra has raised Rs 259 crore (including Base issue of Rs 250 crore and Green shoe option retained upto Rs 09 crore) at coupon rate of 7.99% through Unsecured, Subordinated, Redeemable, Non-convertible, Taxable, Fully Paid up, BASEL III Compliant Tier II Bonds (Series VII) in the nature of Debentures. The issue opened on December 12, 2023 and closed on same day. Deemed date of allotment is on December 14, 2023.
Meanwhile, the Bank has received total bids of Rs 564 crore for its issue of Basel III Compliant Tier 2 Bonds on private placement basis. Further, Bank has accepted bid of Rs 259 crore. The said Bonds will be listed on the Wholesale Debt Market segment of the BSE.
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.
