Bank of Maharashtra rose 1.68% to Rs 18.20 after the bank said that a meeting of the board of directors will be held on Thursday, 28 April 2022, to consider fund raising plans.
The funds would be raised either via follow-on public offer (FPO) or rights issue or qualified institutional placement (QIP) issue, preferential issue or any other mode or combination thereof and/or through issue of Basel-III bonds or such other securities as may be permitted under applicable laws.
On the same day, the bank's board will also consider approve the financial results for the quarter and year ended 31 March 2022.
Bank of Maharashtra is a public sector bank in India. The Government of India held 90.97% stake in the bank as of 31 December 2021.
The state-run bank's net profit rose 110.70% to Rs 324.63 crore on 8.70% increase in total income to Rs 3,893.23 crore in Q3 December 2021 over Q3 December 2020.
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