Bank of Maharashtra board approved the proposal to raise Rs.3000 crore via issuance of equity shares as well as bonds. The bank will look to shore up its Tier-1 and Tier-2 capital. A sum of Rs.2000 crore will be by way of preferential allotment to GOI and others while an additional Rs.1,000 crore will be through Basel-III-compliant Tier-I and Tier-II bonds.

BOM will issue equity shares to the government to the tune of Rs.831 crore on a preferential basis. For the fiscal year 2019-20, Bank of Maharashtra had reported net profits of Rs.389 crore as against a net loss of Rs.4783 crore in the financial year 2018-19. The share is just quoting above Rs.10 per share at this point of time.