Bank of Maharashtra: Outcome of Board Meeting - Raising of Equity Capital

Bank of Maharashtra has informed BSE that, at the Board Meeting held on February 21, 2011 and in terms of the communication from Government of India, Ministry of Finance, Department of Financial Services vide letter dated February 15, 2011 conveying its decision to infuse Rs. 352.00 Crore (Rupees Three Hundred and Fifty Two Crores only) by way of preferential allotment of Equity in favour of Government of India, it is decided to initiate necessary steps to raise the capital by creating, offering, issuing and allotting such number of equity shares of face value of Rs 10/- each for cash at such price as may be determined by the Board in accordance with Regulation 76 (1) of SEBI ICDR Regulations and aggregating to Rs 352.00 crores on preferential basis to Government of India and to complete the formalities by March 31, 2011.