Bank of Maharashtra approves ₹7,500 crore fund raise at AGM
Bank of Maharashtra shareholders approved a capital raise of up to ₹7,500 crore and a final dividend of ₹1.20 per share for FY 2025-26 at its 23rd AGM held on June 30, 2026. The meeting also sanctioned the appointment of Shri Sushanta Kumar Mohanty as Executive Director. The fund raise aims to meet CRAR requirements under Basel III guidelines. All resolutions were passed with the requisite majority.
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Bank of Maharashtra shareholders approved a capital raise of up to ₹7,500 crore and a final dividend of ₹1.20 per share for FY 2025-26 at its 23rd Annual General Meeting (AGM) held on June 30, 2026. The meeting also sanctioned the appointment of Shri Sushanta Kumar Mohanty as Executive Director. The authorization to raise funds aims to meet the Capital to Risk-weighted Assets Ratio (CRAR) requirement under Basel III guidelines through various instruments including equity shares and bonds.
The AGM was chaired by Shri Nidhu Saxena, Managing Director & CEO, in the absence of the Non-Executive Chairman. The proceedings were scrutinized by M/s. S.N. Ananthasubramanian & Co., Company Secretaries, who confirmed that all resolutions were passed with the requisite majority. The remote e-voting process was managed by Central Depository Services (India) Limited (CDSL).
Voting Results
Shareholders voted on four key agenda items, including the adoption of financial statements, dividend declaration, executive appointment, and the capital raise proposal. The voting details are summarized below:
| Resolution | Votes For | Votes Against | % For | % Against |
|---|---|---|---|---|
| Adoption of Financial Statements | 7,02,51,55,101 | 4,98,456 | 99.99 | 0.01 |
| Declaration of Dividend | 7,02,64,93,166 | 3,248 | 100.00 | 0.00 |
| Appointment of Executive Director | 6,73,48,44,591 | 29,11,94,430 | 95.86 | 4.14 |
| Raising of Equity Capital | 7,02,41,69,058 | 18,82,180 | 99.97 | 0.03 |
The meeting was attended by 102 members, including an authorized representative of the Government of India. The statutory central auditors and secretarial auditors were also present. The results of the remote e-voting and e-voting conducted during the AGM have been hosted on the Bank's website and the websites of the BSE and NSE.
Historical Stock Returns for Bank of Maharashtra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.73% | -7.46% | +0.33% | +34.84% | +47.50% | +247.42% |
What specific mix of equity and debt instruments does Bank of Maharashtra plan to utilize for the ₹7,500 crore capital raise?
How will the infusion of new capital impact the bank's lending growth and credit expansion strategies in the coming fiscal year?
What is the expected timeline for the capital raise, and could it lead to equity dilution for existing shareholders?
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