Bank of Maharashtra has informed the Exchange about 22nd Annual General Meeting of Bank of Maharashtra on 30th June, 2025
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Bank of Maharashtra has scheduled its 22nd AGM on Monday, 30th June 2025 at 11:00 a.m. via video conferencing. Key agenda items include adoption of the audited financial statements for FY ending 31st March 2025, declaration of a dividend of Rs. 1.50 per equity share (face value Rs. 10) for FY 2024-25, and a special business proposal to raise up to Rs. 7,500 crore in equity capital through various modes including FPO, rights issue, QIB placement, preferential issue, ESPS, or Basel III bonds. The notice also seeks approval to appoint M/s Joshi & Joshi as Secretarial Auditor for a 5-year term (FY 2025-26 to 2029-30) and to conduct an election for one shareholder director (excluding Central Government nominees). The record date for dividend was 9th May 2025, with payment scheduled for 29th July 2025. E-voting will be open from 26th June to 29th June 2025.
The Rs. 7,500 crore equity capital raise proposal is the most material item for shareholders, as it could lead to dilution depending on the mode and pricing of issuance. The Rs. 1.50 per share dividend is positive for income-seeking investors. Existing shareholders should review the dilution risk and pricing terms carefully before voting on the capital raise resolution.