Bank Of Maharashtra

Bank of Maharashtra has received an approval to raise equity capital up to Rs 1,062 crore by way of issue of equity shares to Government of India and/or to Qualified Institutional Buyers on preferential allotment basis or by way of issue of equity shares by right issue. The board at its meeting held on December 22, 2012 has approved for the same.

The board has further authorized the Chairman and Managing Director or in his absence the Executive Director to convene Extraordinary General Meeting of shareholders and to fix relevant date for the purpose of determining the issue price, as per relevant regulations and to take such other actions as required in the matter.