The Hindu Business Line

Bank of Maharashtr­a raises ₹500 cr

- PTI

Bank of Maharashtr­a on Friday said it has raised ₹500 crore by issuing Basel-III compliant bonds on private placement basis. “The bank has successful­ly raised ₹500 crore through issue of Basel-III compliant unsecured perpetual non-convertibl­e additional tier-I bonds on private placement basis,” the bank said in a regulatory filing. The bonds will be listed on the BSE and the NSE. Basel-III compliant bonds are being issued by banks to raise money to improve and strengthen capital base to mitigate concerns related to potential stress on asset quality.

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