Bank of Maharashtra has also kept a so-called greenshoe option open to raise a further Rs200 crore if the demand is sufficiently strong. Photo: BloombergMumbai: Bank of Maharashtra has launched a share sale to institutions to raise around Rs300 crore ($47 million) to boost its capital ratios, three people with direct knowledge of the matter said on Monday. Bank of Maharashtra is selling shares in a price range of Rs25.55 to Rs26.10 each, said two of the people. Bank of Maharashtra, in a stock exchange filing, said it was launching the share sale, but did not say how much it was looking to raise. Ltd are managing the share sale.

Source: Mint December 04, 2017 16:30 UTC