Bank of Maharashtra reports ₹7,930.7 crore in outstanding bonds for H1FY27
- Total outstanding bonds stand at ₹7,930.7 crore as of September 30, 2026
- Largest single issuance is ₹1,612.0 crore with a 7.70% coupon rate
- Two bonds worth ₹1,200.7 crore have call options exercisable in late 2026
- Perpetual bonds constitute ₹1,880.0 crore of the total outstanding liability
*this image is generated using AI for illustrative purposes only.
Bank of Maharashtra disclosed a total outstanding bond liability of ₹7,930.7 crore as of September 30, 2026. The filing covers the half year ended September 30, 2026, detailing 13 distinct debt securities issued by the bank.
The statement was submitted to BSE and NSE pursuant to SEBI Circular no. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025. Vishal Sethia, Company Secretary and Compliance Officer, signed the document on October 8, 2026.
Outstanding debt securities breakdown
The portfolio comprises perpetual bonds and fixed-maturity instruments with varying coupon rates and call options. The largest single issuance is a ₹1,612.0 crore bond issued in February 2025, carrying a coupon rate of 7.70%. Three perpetual bonds account for ₹1,880.0 crore of the total outstanding amount.
| ISIN | Issuance Date | Maturity | Coupon Rate (%) | Amount Outstanding (₹ crore) | Call Option Date |
|---|---|---|---|---|---|
| INE457A08183 | 18.02.2025 | 17.02.2035 | 7.70 | 1,612.00 | None |
| INE457A08167 | 04.07.2024 | 04.07.2034 | 7.89 | 1,000.00 | 04.07.2029 |
| INE457A08092 | 21.10.2021 | 21.10.2031 | 7.86 | 1,000.00 | 21.10.2026 |
| INE457A08175 | 05.08.2024 | 05.08.2034 | 7.80 | 811.00 | None |
| INE457A08134 | 26.12.2022 | Perpetual | 8.74 | 880.00 | 26.12.2027 |
| INE457A08118 | 08.09.2022 | Perpetual | 8.74 | 710.00 | 08.09.2027 |
| INE457A08142 | 18.09.2023 | 18.09.2033 | 7.98 | 515.00 | 18.09.2028 |
| INE457A08126 | 07.12.2022 | 07.12.2032 | 8.00 | 348.00 | 07.12.2027 |
| INE457A08159 | 14.12.2023 | 14.12.2033 | 7.99 | 259.00 | 14.12.2028 |
| INE457A08068 | 14.12.2020 | 12.12.2030 | 7.75 | 200.70 | 14.12.2026 |
| INE457A08076 | 11.02.2021 | 11.02.2031 | 8.00 | 205.00 | 11.02.2027 |
| INE457A08100 | 24.03.2022 | Perpetual | 8.75 | 290.00 | 24.03.2027 |
| INE457A08084 | 23.03.2021 | 23.03.2031 | 8.00 | 100.00 | 23.03.2027 |
What the numbers show
A significant portion of the bank's bond liabilities faces near-term repricing or redemption decisions. Specifically, two securities totaling ₹1,200.7 crore have call options exercisable in late 2026: one maturing in October 2026 (₹1,000.0 crore) and another in December 2026 (₹200.7 crore). This concentration suggests that nearly 15% of the disclosed outstanding bond book could be called within the next three months, potentially impacting the bank's cost of funds depending on prevailing market rates at the time of exercise.
Historical Stock Returns for Bank of Maharashtra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.08% | -5.46% | -6.07% | +7.89% | +37.40% | +264.13% |
Will Bank of Maharashtra exercise the call options on the ₹1,200.7 crore bonds maturing in late 2026, or will it refinance them at prevailing market rates?
How might the bank's decision to call or retain its high-coupon perpetual bonds (8.74%-8.75%) impact its Common Equity Tier 1 capital ratios in the coming quarters?
What is the projected trajectory for Bank of Maharashtra's net interest margin as it replaces near-term high-cost debt with potentially lower-yielding instruments in a stabilizing rate environment?
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