Latest News | Bank of Maharashtra Plans to Raise Rs 1,500 Cr Via Bonds

New Delhi, Sep 12 (PTI) State-owned Bank of Maharashtra (BoM) on Tuesday said it plans to raise Rs 1,500 crore through bonds to fund business growth.

The lender intends to raise the funds through private placement of Basel-III compliant tier II bonds, BoM said in a regulatory filing.

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The issue size is Rs 250 crore with a green shoe option of Rs 1,250 crore, it added.

The tenure of the bonds is going to be 10 years.

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The bond auction date is September 14, while allotment to bidders would be made on September 18, the filing said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)