Bank of Maharashtra to raise capital of Rs 1,000 crore

State-owned Bank of Maharashtra today said it will raise capital of Rs 1,000 crore by various modes.

The Pune-headquartered lender however did not specify any time-frame for the same.

"The Bank has decided to raise capital through Follow on Public Offer/Rights issue/Qualified Institutional Placement up to Rs 1,000 crore," it said in a regulatory filing.

The fund raising plans are subject to the necessary approvals.

The Bank had registered a net profit of Rs 100.69 crore in the previous financial year.

For 2016-17, the bank has set a goal of Rs 2.55 lakh crore disbursement towards priority sector lending.

Stock of the bank traded 1.62 per cent higher at Rs 28.30 on BSE.