Bank of Maharashtra to raise Rs 1,000 crore

Mumbai, June 2 (IANS) Public sector lender Bank of Maharashtra on Thursday said it will raise Rs 1,000 crore via various capital-raising tools.

In a regulatory filing to the BSE, the bank said it will raise the capital through various modes like follow-on public offer (FOP), rights issue and qualified institutional placement (QIP).

“The Bank has decided to raise capital through FPO/Rights issue/QIP etc., up to Rs.1,000 crore, subject to the necessary approvals,” the state-run lender said in the filing.

The bank's scrip inched up by 0.60 points, or 2.15 per cent at Rs 28.45 from its previous close of Rs 27.85 on the BSE on Thursday.