Latest News | Govt Infuses Equity Capital of Rs 831 Cr in Bank of Maharashtra

New Delhi, Aug 25 (PTI) State-owned Bank of Maharashtra on Tuesday said it has raised Rs 831 crore by issuing shares to the government on preferential basis.

Consequent to the receipt of necessary approvals, the bank on Tuesday issued and allotted 73,60,49,601 equity shares for cash at an issue price of Rs 11.29 per scrip to the Government of India, aggregating to Rs 831 crore, on preferential basis, it said in a regulatory filing.

Also Read | Punjab Govt Extends Validity of Driving Licences, Registration Certificates and Permits Till December 31, 2020 in View of COVID-19 Pandemic.

"With this allotment, government holding has increased from 92.49 per cent to 93.33 per cent," the Pune-headquartered lender said.

Stock of the bank closed at Rs 14.76 on BSE, up 4.76 per cent.

Also Read | Realme X7 Pro Smartphone’s Images & Specifications Leaked Online Ahead of Launch; Expected Prices, Features & Specifications.

(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)