Bank of Maharashtra receives bids for long term infra bonds

Bank of Maharashtra (BSE: MAHABANK) announced it received total bids of Rs.2362 crore for its Long Term Infra Bonds issue on a private placement basis. The bank has accepted bids worth Rs.1612 crore, including a base issue of Rs.500 crore and a green shoe option retained up to Rs.1112 crore, at a coupon rate of 7.70%. The bonds, characterized as Non-Convertible, Taxable, Listed, Rated, and Redeemable, are unsecured and fully paid-up, falling under Long-Term Infra Bonds (Series II) in the nature of debentures. Each bond has a face value of Rs.1 lakh. The bonds have been rated "CARE AA +/Stable” by CARE Ratings Limited and "ICRA AA + /Stable” by ICRA Limited. The issue opened and closed on February 17, 2025, with a deemed date of allotment of February 18, 2025. The maturity date is set after 120 months from the allotment date, and the bonds will be listed on the BSE's Wholesale Debt Market segment via the BSE Electronic Bond Platform.