The state-run bank made this announcement after market hours on Tuesday, 7 February 2012.
Meanwhile, the BSE Sensex was up 37.63 points, or 0.21% to 17,660.08.
On BSE, 57,000 shares were traded in the counter as against average daily volume of 62,267 shares in the past one quarter.
The stock hit a high of Rs 55.50 and a low of Rs 51.10 so far during the day. The stock had hit a 52-week low of Rs 37.75 on 29 December 2011. The stock had hit a 52-week high of Rs 65 on 6 April 2011.
The stock had outperformed the market over the past one month till 7 February 2012, surging 18.91% compared with the Sensex's 11.19% return. The stock had also outperformed the market in past one quarter, rising 0.5% as against 0.34% gain in the Sensex.
The mid-cap state-run bank has an equity capital of Rs 481.71 crore. Face value per share is Rs 10.
Bank of Maharashtra's board of directors will meet on 10 February 2012 to discuss and approve proposal for raising of capital by issue of equity share capital on preferential basis in terms of SEBI (ICDR) Regulation 2009 to Government of India/Life Insurance Corporation of India/others and also decide on other incidental and ancillary matters, the bank said in a statement.
Bank of Maharashtra's net profit rose 50.2% to Rs 135.54 crore on 30.1% growth in total income to Rs 2020.78 crore in Q3 December 2011 over Q3 December 2010.
Government of India (GoI) holds 79.24% stake in Bank of Maharashtra (as per the shareholding pattern as on 31 December 2011).