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Secondary Issues

Bank of Maharashtra to raise up to Rs.2,000-Cr through QIP

PTI  

State-run Bank of Maharashtra is looking to raise up to INR 2,000 crore through the qualified institutional placement (QIP) route before July-end. The base size of the issue is INR 1,000 crore and it has a greenshoe option of another INR 1,000 crore. In April, the Pune-basd lender had received board approval to raise INR 5,000 crore by way of QIP/ rights issue/ preferential issue or by issuing Basel III bonds.