Bank of Maharashtra plans to raise Rs 10,000 crore in infrastructure bonds this fiscal, managing director Nidhu Saxena said.
The bond issue is expected to be at the later part of the year as the interest rate is expected to move further southward.
“The timing of the issue will depend on the interest rate movement. We will wait for the best pricing and finalise the issue timing accordingly,” Saxena said.
The state-owned lender also has board approval to raise Rs 5000 crore in equity and Rs 2500 crore in debt.
The government holds 79.60% in the bank, which needs to reduce the promoter holding to below 75% to adhere to the minimum 25% public shareholding rule.
“The capital raising plan has not been firmed up yet,” Saxena said.
