Bank of Maharashtra zooms 5.5% after raising capital of Rs100cr via bonds on private placement

The company on March 23 allotted 1000 BASEL III Compliant Tier II Bonds of face value Rs10 lakh each.

Mar 24, 2021 11:03 IST India Infoline News Service

Bank of Maharashtra has successfully raised capital of Rs100cr through private placement of BASEL III Compliant Tier II Bonds.

The company on March 23 allotted 1000 bonds of face value Rs10 lakh each. The maturity date for bonds is March 23, 2031.

“The said bonds will be listed on the Wholesale Debt Market segment of the BSE Limited,” company said in a regulatory filing on Tuesday.

At around 11.56 am, Bank of Maharashtra was trading at Rs22.05 per piece up by Rs1.15 or 5.5% from its previous closing of Rs20.90 per piece on the BSE.

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