Business Update5 Oct 2024, 08:06 pm
Bank of Maharashtra Approves Rs. 3499 Crores QIP at Rs. 57.36 Per Share
AI Summary
Bank of Maharashtra has approved the issue and allotment of 61,01,81,311 Equity Shares of face value Rs. 10 each to eligible qualified institutional buyers at the issue price of Rs. 57.36 per Equity Share, pursuant to the Issue in accordance with provisions of Securities and Exchange Board of India (Issue of Capital Disclosure Requirements) Regulations, 2018. The Issue opened on 30.09.2024 and closed on 04.10.2024. The paid-up equity share capital of the Bank stands increased to Rs. 76915549500 from Rs. 70813736390.
Key Highlights
- Bank of Maharashtra has approved the issue and allotment of 61,01,81,311 Equity Shares worth Rs. 3499 Crores.
- The issue price is set at Rs. 57.36 per Equity Share, lower than the floor price of Rs. 60.37 per Equity Share.
- The Issue opened on 30.09.2024 and closed on 04.10.2024.
- The paid-up equity share capital of the Bank stands increased to Rs. 76915549500 from Rs. 70813736390.
- Life Insurance Corporation of India is the largest allottee with 42.56% of the total issue size.