Bank of Maharashtra to raise up to Rs 600 cr via bonds
PTI, Mar 3, 2020, 2:26 PM IST
New Delhi: State-run Bank of Maharashtra on Tuesday said it will raise up to Rs 600 crore by issuing bonds on a private placement basis.
“The bank is proposing to raise capital by issue of Basel III-compliant unsecured, redeemable non-convertible tier-II bonds of base issue of Rs 200 crore with greenshoe option of Rs 400 crore aggregating to Rs 600 crore on private placement basis,” the lender said in a regulatory filing.
To comply with Basel-III Capital Regulations, banks need to improve and strengthen their capital planning processes.
These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.
The Indian banking system has been implementing Basel III standards in phases since April 1, 2013.
Stocks of Bank of Maharashtra was trading at Rs 10.54 on BSE, down 0.57 per cent from its previous close.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Byju’s saga: Vendors’ claims before NCLT touch Rs 190 crore
Air India to restart Delhi-Tel Aviv flights on May 16
Vipul Organics participates in American Coatings Show in USA
Sensex tumbles 700 points amid broad-based selloff; Nifty slips from record highs
SEBI Issues Show Cause Notice to Six Adani Group Companies
MUST WATCH
Latest Additions
MP: MLA ‘threatens’ cop for switching off Chouhan’s mic; Congress demands action against ex-CM
Rahul Gandhi writes to Karnataka CM for extending support to Prajwal Revanna’s victims
Mumbai to witness high sea waves till Sunday night, BMC issues advisory
One year on: Orphanage run by Kuki-Meitei couple offers hope for harmony
Kerala saved 200 MW power on May 3 due to self control by consumers