Bank of Maharashtra is set to raise ₹3,500 crore through a Qualified Institutional Placement (QIP), as reported by CNBC-TV18.
The bank’s move to initiate this capital-raising strategy is aimed at enhancing its financial position.
The floor price for this QIP is set at ₹60.36 per share, with the effective (indicative) price at ₹57.2 per share.
The book-running lead managers for the QIP are Motilal Oswal (MOSL) and others, according to sources reported by CNBC-TV18.
The funds raised through this QIP will bolster the bank’s capital base and support its growth objectives across various business segments. As of 2:38 pm the shares of Bank of Maharashtra were trading 1.17% higher at ₹60.53
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