State-owned Bank of Maharashtra (BoM) said its shareholders have approved raising capital up to Rs995.10 crore through a preferential issue of shares to the government and the Life Insurance Corporation ( LIC).
The shareholders at the general meeting approved issuance of shares to the government and LIC on preferential basis at Rs56.09 apiece, BoM said in a filing to the BSE.
Following this, the government will pick up shares up to Rs860 crore and LIC up to Rs135.10 crore aggregating to Rs995.10 crore, it said.
Last fiscal, the bank got capital support of Rs588 crore from the government.
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The shareholders at the general meeting approved issuance of shares to the government and LIC on preferential basis at Rs56.09 apiece, BoM said in a filing to the BSE.
Following this, the government will pick up shares up to Rs860 crore and LIC up to Rs135.10 crore aggregating to Rs995.10 crore, it said.
Last fiscal, the bank got capital support of Rs588 crore from the government.
....more info