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Maha Bank gets nod to raise Rs 2Kcr via equity dilution

Press Trust of India  |  New Delhi 

Public sector of said it has obtained approval of shareholders in today's AGM to raise Rs 2,000 crore through equity dilution.

At the annual general meeting (AGM) held today, the resolution was passed for raising of equity capital, the said in a regulatory filing.

The money can be raised by follow-on public offer/rights issue/qualified institutional placement/preferential issue etc aggregating to Rs 2,000 crore including share premium, it said.

Earlier in May, the had said that the funds it intends to raise through equity capital will be added to bank's capital conservation buffer (CCB) as per Basel III requirements and also for annual business growth.

stock closed 2.65 per cent up at Rs 30.95 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 16 2017. 20:28 IST