Bank of Maharashtra to raise Rs 2000 crore via equity dilution

Bank of Maharashtra on Friday announced that the public-sector bank has obtained the approval of its shareholder in Friday’s AGM to raise Rs 2000 crore through equity dilution.

The money can be raised by follow-on public offer/rights issue/qualified institutional placement/preferential issue etc, aggregating to Rs 2,000 crore including share premium, the company said in its filling.

Earlier in May, the bank had said that the funds it intends to raise through equity capital will be added to bank’s capital conservation buffer (CCB) as per Basel III requirements and also for annual business growth.

Bank of Maharashtra segments include treasury, corporate/wholesale banking, retail banking and other banking operations. The treasury segment includes investment, balances with banks outside India, interest accrued on investments and related income.
Bank of Maharashtra on Friday announced that the public-sector bank has obtained the approval of its shareholder in Friday’s AGM to raise Rs 2000 crore through equity dilution.

The money can be raised by follow-on public offer/rights issue/qualified institutional placement/preferential issue etc, aggregating to Rs 2,000 crore including share premium, the company said in its filling.

Earlier in May, the bank had said that the funds it intends to raise through equity capital will be added to bank’s capital conservation buffer (CCB) as per Basel III requirements and also for annual business growth.

Bank of Maharashtra segments include treasury, corporate/wholesale banking, retail banking and other banking operations. The treasury segment includes investment, balances with banks outside India, interest accrued on investments and related income.

Stock view:

Bank of Maharashtra ended at Rs 30.95, up by Rs 0.8 or 2.65% from its previous closing of Rs 30.15 on the BSE.

The scrip opened at Rs 30.15 and touched a high and low of Rs 31 and Rs 29.85 respectively. A total of 267382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3604.31 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 40.7 on 04-May-2017 and a 52 week low of Rs 25 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 31.6 and Rs 29.5 respectively.

The promoters holding in the company stood at 81.61 % while Institutions and Non-Institutions held 13.36 % and 5.02 % respectively.

The stock traded below its 50 DMA.



Bank of Maharashtra ended at Rs 30.95, up by Rs 0.8 or 2.65% from its previous closing of Rs 30.15 on the BSE.

The scrip opened at Rs 30.15 and touched a high and low of Rs 31 and Rs 29.85 respectively. A total of 267382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3604.31 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 40.7 on 04-May-2017 and a 52 week low of Rs 25 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 31.6 and Rs 29.5 respectively.

The promoters holding in the company stood at 81.61 % while Institutions and Non-Institutions held 13.36 % and 5.02 % respectively.

The stock traded below its 50 DMA.

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