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BoM likely to raise up to Rs 1,000 crore via tier-2 bonds
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MUMBAI Bank of Maharashtra is likely to raise up to 1,000 crore worth of funds through the issuance of tier-2 bonds next week, strengthening its operational finances after having concluded an equity sale to select bulk investors two months ago, reports Bhaskar Dutta. “They are looking at a base issue of 200 crore and a greenshoe option of 800 crore.
The bidding could take place on August 9,” a source aware of the development said. The bonds are rated AA+ by rating agencies Acuite and Infomerics, the source said
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