Bank of Maharashtra to Invest ₹50 Crore in Maharashtra Gramin Bank's Tier-I Bonds
Bank of Maharashtra plans to invest up to ₹50 crore in tier-I perpetual bonds issued by Maharashtra Gramin Bank, a regional rural bank under its sponsorship. The total bond issue is ₹70 crore, with ₹20 crore expected from the market. The bonds offer a 10.15% interest rate and are likely to close by March-end. This investment aims to strengthen the rural bank's capital base and enhance its lending capabilities in Maharashtra's rural areas.
18Mar 25
Bank of Maharashtra Receives SEBI Warning for Non-Compliance with Committee Meeting Regulations
Bank of Maharashtra has received an administrative warning from SEBI for failing to conduct Nomination & Remuneration Committee meetings in FY 2022-23 and 2023-24, violating Regulation 19(3A) of SEBI's Listing Obligations and Disclosure Requirements. The bank asserts this warning will not impact its financial or operational activities and has committed to addressing SEBI's concerns.
17Mar 25
Bank of Maharashtra Receives SEBI Warning for Non-Compliance with Committee Meeting Regulations
Bank of Maharashtra has received an administrative warning from SEBI for failing to conduct Nomination & Remuneration Committee meetings in FY 2022-23 and 2023-24, violating SEBI LODR Regulations. The bank acknowledged the warning, stating it has no financial or operational impact, and committed to addressing the issue. This incident highlights the importance of regulatory compliance and corporate governance for listed entities.
28Feb 25
Bank of Maharashtra Kicks Off UAE Roadshows for Rs 2,500 Crore QIP
Bank of Maharashtra has initiated roadshows in the UAE for a Qualified Institutional Placement (QIP) aiming to raise up to Rs 2,500 crore, potentially diluting a 4.6% stake. The state-owned bank plans to complete the fundraising in the December quarter. Recent financial data shows strong growth, with total assets increasing by 14.75% year-over-year to Rs 307,329.0 crore and current assets rising by 46.85% to Rs 35,458.0 crore as of March 2024. The QIP is expected to strengthen the bank's capital adequacy ratio and support future growth.