Key Points
Bank of Maharashtra (BoM) Wednesday said it has raised 1,000 crore through Qualified Institutional Placement (QIP)..
The bank in a statement said, Board of Directors of the Bank approved the allotment of 350,877,192 equity shares to eligible qualified institutional buyers at the issue price of 28.50 per equity share (including premium of Rs. 18.50 per share), aggregating to 10,000 million (Rupees Ten Thousand Million only) under the SEBI ICDR Regulations.".
Pursuant to the allotment of equity shares in the QIP, the paid up equity share capital of the bank stands increased to 70,813,736,390, consisting of 7,081,373,639 equity shares of face value of 10 each, the bank said..
Among institutional bidders who have been allotted more than 5% of the shares within the QIP include Life Insurance Corporation of India, which has been allotted 8.34 crore shares or 23.77% of the total approved shares within the QIP..
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