Bank of Maharashtra to raise up to Rs 600 crore through bonds

Bank of Maharashtra stated that it will raise up to Rs 600 crore through bonds on a private placement basis. “The bank is proposing to raise capital by issue of Basel III-compliant unsecured, redeemable non-convertible tier II bonds of base issue of Rs 200 crore with green shoe option of Rs 400 crore aggregating to Rs 600 crore on private placement basis,” the bank said in a regulatory filing.

Banks are required to improve and strengthen their capital planning processes in order to In order to comply with Basel-III Capital Regulations. `The Indian banking system has been implementing Basel III standards in phases since April 1, 2013.