 "Bank of Maharashtra raises Rs 500 cr via bonds")
State-owned Bank of Maharashtra today said it has raised Rs 500 crore by issuing bonds that are compliant with global capital adequacy norms.
"The Bank has raised Rs 500 crore by issue of Basel III compliant unsecured redeemable non-convertible Tier II bonds," it said in a BSE filing.
The bonds have been rated as 'AA hyb' by ICRA and 'AA' by CARE, it added.
Earlier this month, the Pune-based bank had informed about raising capital up to Rs 1,000 crore through various means including of FPO, rights issue or Qualified Institutional Placement.
Shares of Bank of Maharashtra were trading 0.76% up at Rs 33 on BSE.
"The Bank has raised Rs 500 crore by issue of Basel III compliant unsecured redeemable non-convertible Tier II bonds," it said in a BSE filing.
The bonds have been rated as 'AA hyb' by ICRA and 'AA' by CARE, it added.
Also Read
The bonds bear the coupon rate of 9.20% per annum.
Earlier this month, the Pune-based bank had informed about raising capital up to Rs 1,000 crore through various means including of FPO, rights issue or Qualified Institutional Placement.
Shares of Bank of Maharashtra were trading 0.76% up at Rs 33 on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%