Bank of Maharashtra gets shareholders’ nod to raise Rs 5,000 crore

By: |
June 24, 2021 9:55 PM

The shareholders approved the proposal at the bank's annual general meeting (AGM) held on June 24, 2021, through audio/visual means.

Bank of MaharashtraThe bank’s gross NPA declined to 6.35% as on June 2021, against 10.93 % last year.

Bank of Maharashtra on Thursday received shareholders’ approval to raise up to Rs 5,000 crore equity capital through various modes, including rights issue and preference issue.

The shareholders approved the proposal at the bank’s annual general meeting (AGM) held on June 24, 2021, through audio/visual means.

The resolution of raising equity capital by follow-on public offer (FPO), QIP or preferential issue, among others, aggregating to Rs 5,000 crore was passed by shareholders of the bank with the requisite majority, Bank of Maharashtra said in a regulatory filing.

Shares of the bank closed flat at Rs 25.10 apiece on BSE.

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