Bank of Maharashtra to raise up to ₹1,000 crore from share sale in Q4

Bank of Maharashtra (BoM) proposes to raise up to ₹1,000 crore from qualified institutional placement in the January-March quarter to meet minimum public shareholding norms of the Securities and Exchange Board of India, MD AS Rajeev said. The Central government holds a 90.97% stake in the bank and the holding may come down to around 85% following the share sale.