Bank of Maharashtra raises Rs 348 crore through bonds

8 Dec 2022 , 09:47 AM

The government-owned Bank of Maharashtra (BoM) reported on Wednesday that it had raised Rs 348 crore through bonds to finance corporate expansion. According to a regulatory filing by BoM, the lender raised money through a private sale of tier II bonds that were Basel-III compliant. The paper, which has a face value of Rs 1 crore for each piece, also has an 8% coupon rate. The bonds will be offered on the BSE’s Wholesale Debt Market.

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