Bank of Maharashtra issues USD 500 Million notes at 6.112% coupon

0 min read | Published on 17 Sept 2026, 10:38 PM |Updated on 17 Sept 2026, 10:38 PM

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Ritika DScanX News Team

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Key Highlights

Bank of Maharashtra issued USD 500 Million in Senior Unsecured Fixed Rate Notes
The notes carry a 6.112% p.a. coupon payable semi-annually over a 5-year tenor
Issuance was executed under the MTN Programme via the GIFT City IFSC Banking Unit
Securities will be listed on India INX and NSE IX following issuance

*this image is generated using AI for illustrative purposes only.

Bank of Maharashtra has concluded the issuance of USD 500 Million in Senior Unsecured Fixed Rate Notes. The bank secured the funding through its Medium Term Note (MTN) Programme established on September 4, 2026.

The notes carry a coupon rate of 6.112% p.a., payable semi-annually, with a maturity period of five years. The issuance was conducted under Regulations S of the U.S. Securities Act, 1933.

Deal Structure

The instrument is classified as Senior Unsecured Fixed Rate Notes. The bank will issue the notes through its IFSC Banking Unit at GIFT City as of September 24, 2026.

Metric	Detail
Issue Size	USD 500 Million
Coupon Rate	6.112% p.a.
Maturity	5 years
Payment Frequency	Semi-annually
Listing Venues	India INX, NSE IX

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vishal Sethia, Company Secretary & Compliance Officer, signed the intimation on September 17, 2026.

Historical Stock Returns for Bank of Maharashtra

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.99%	+5.63%	+4.71%	+28.32%	+46.77%	+359.23%

How will the USD 500 million influx impact Bank of Maharashtra's capital adequacy ratios and future lending capacity?

What strategic initiatives or asset acquisitions is the bank likely to fund with these proceeds from its GIFT City unit?

How does the 6.112% coupon rate compare to current international benchmarks for Indian public sector banks, and what does this signal about investor sentiment?

Bank of Maharashtra

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Bank of Maharashtra appoints Saurabh Kumar as GOI nominee director

0 min read | Published on 11 Sept 2026, 07:54 PM |Updated on 11 Sept 2026, 07:54 PM

Reviewed by

Riya DScanX News Team

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Key Highlights

Saurabh Kumar appointed as GOI nominee director with immediate effect
Replaces Abhijit Phukon on the board of Bank of Maharashtra
Kumar is Joint Secretary, DFS, Ministry of Finance
Appointment made under Banking Companies Act, 1970
Kumar brings 17 years of IAS administrative experience

*this image is generated using AI for illustrative purposes only.

Bank of Maharashtra has appointed Saurabh Kumar as a Government of India nominee director on its board. The appointment takes immediate effect, replacing Abhijit Phukon.

Kumar, 42, currently serves as Joint Secretary in the Department of Financial Services (DFS), Ministry of Finance. The Central Government issued the notification on September 10, 2026, under clause (b) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

Director Profile

Kumar is a 2009-batch Indian Administrative Service (IAS) officer from the Chhattisgarh cadre. He holds a Bachelor of Technology degree in Electronics and brings over 17 years of administrative experience.

His professional background includes district administration, urban development, revenue administration, and policy matters. He has also served as Director in the Department of Revenue, Government of India.

Regulatory Compliance

The bank disclosed the appointment pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kumar is not related to any existing directors of the bank and is not debarred from holding office by any regulatory authority.

His tenure continues until further orders by the government.

Historical Stock Returns for Bank of Maharashtra

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.99%	+5.63%	+4.71%	+28.32%	+46.77%	+359.23%

How might Saurabh Kumar's background in district administration and revenue policy influence Bank of Maharashtra's strategy for rural credit expansion and financial inclusion?

What impact could the replacement of Abhijit Phukon with a DFS Joint Secretary have on the bank's regulatory compliance and relationship with the Ministry of Finance?

Will Kumar's tenure as a government nominee signal any upcoming changes in the bank's dividend policy or capital allocation strategies aligned with central government priorities?

Bank of Maharashtra

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