Bank of Maharashtra gets Rs 205 cr capital from Government

State-owned Bank of Maharashtra Monday said the government has infused Rs 205 crore into the bank in lieu of preferential allotment of shares. The capital infusion was done on March 30, 2019.

The issue committee of the bank in its meeting held on March 30, 2019, issued and allotted 15,47,16,981 equity shares of the bank for cash at an issue price of Rs 13.25 per share aggregating to Rs 205 crore on preferential basis to the government, Bank of Maharashtra said in a regulatory filing.

Following the allotment of shares, the shareholding of the government has increased to 87.74 percent in the bank from 87.01 percent earlier, it said.

“The paid-up capital of bank had increased from Rs 2,598.45 crore to Rs 2,753.17 crore,” it added.

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