Bank of Maharashtra Hosts 23rd Annual General Meeting to Discuss Financial Performance and Rs 7,500 Crore Capital Raise Proposal

Bank of Maharashtra Hosts 23rd Annual General Meeting to Discuss Financial Performance and Rs 7,500 Crore Capital Raise Proposal​

Bank of Maharashtra (BoM) is scheduled to hold its 23rd Annual General Meeting (AGM) on Tuesday, June 30, 2026. The meeting, which will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), includes crucial agenda items covering the bank's financial status, dividend declaration, and a proposal to raise up to ₹7,500 crore through various capital raising mechanisms.

The AGM is set to transact both Ordinary Business and Special Business. The ordinary agenda includes discussing and adopting the Audited Balance Sheet and Profit & Loss Account for the year ended March 31, 2026, along with the Board of Directors' report and the Auditors’ report. Additionally, shareholders will be asked to approve the declaration of a final dividend on Equity Shares for the Financial Year 2025-26.

Appointment and Capital Raising Focus​

A key focus of the meeting is the approval sought for appointing Shri Sushanta Kumar Mohanty as Executive Director. The appointment follows the notification issued by the Central Government on April 15, 2026. Shri Mohanty brings over 30 years of banking experience, holding roles such as Zonal Head and Regional Head at Bank of Baroda, and his expertise includes Treasury Operations and International Banking Credit Management. His tenure is for three years from his assumption date or until further orders, whichever comes first.

The Special Business agenda includes considering a significant proposal to raise capital up to ₹7,500 crore. This capital would be raised through equity options such as preferential allotment to GOI/LIC/FI, Qualified Institutional Placement (QIP), Follow-on Public Offer (FPO)/Rights/ESPS Issue, or by issuing Basel III Additional Tier I and Tier II Bonds.

The proposal is aimed at fulfilling the Capital Adequacy Ratio (CRAR) requirements under Basel III. As of March 31, 2026, BoM's capital adequacy ratio stood at 18.36%, which exceeds the regulatory requirement of 11.50%. The bank’s authorized capital stands at ₹10,000 crore, with paid-up equity share capital recorded at ₹7,691.56 crore as of the financial year end.

Key Dates and Financial Details​

The following critical dates have been established for shareholders:


The Board of Directors had recommended a dividend of ₹1.20 per equity share for the financial year ended March 31, 2026. This amount is in addition to the interim dividend of ₹1.00 per equity share declared on January 13, 2026.

The bank also provided necessary instructions regarding dematerialization and procedures for investors who hold shares in physical form, emphasizing that all future transmission must be conducted only in a dematerialized format.

MAHABANK Stock Price Movement​

On Friday, shares of Bank of Maharashtra edged higher to settle at ₹79.19 after gaining 0.7% in the market. The stock traded within a tight range of ₹79.00 and ₹80.77, with a total traded volume amounting to 12.71 million shares.