NEW DELHI, June 2: State-owned Bank of Maharashtra today said it will raise capital of Rs 1,000 crore by various modes.
The Pune-headquartered lender however did not specify any time-frame for the same.
“The Bank has decided to raise capital through Follow on Public Offer/Rights issue/Qualified Institutional Placement up to Rs 1,000 crore,” it said in a regulatory filing.
The fund raising plans are subject to the necessary approvals.
The Bank had registered a net profit of Rs 100.69 crore in the previous financial year.
For 2016-17, the bank has set a goal of Rs 2.55 lakh crore disbursement towards priority sector lending.
(PTI)
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