India’s Bank of Maharashtra board to discuss proposal to raise funds

By Sarah Lizee

Olympia, Wash., May 1 – Bank of Maharashtra informed the Bombay Stock Exchange that its board of directors will meet on Friday to consider a proposal to raise capital.

The board will consider issuing bonds or other securities, as well as equity shares through a follow-on public offering, a rights issue, a qualified institutional placement, a preferential issue or any other more or combination of these.

The Pune, India-based issuer is one of the largest banks in western India.

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