Bank of Maharashtra has informed the Exchange regarding Proceedings of Annual General Meeting held on Jun 30, 2024. Further, the company has submitted the Exchange a copy of Srutinizers report along with Proceedings.
MAHABANK · price
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Bank of Maharashtra held its 22nd AGM on June 30, 2025 via video conference, attended by 108 members. Shareholders approved the audited financial statements for FY 2024-25 with 99.64% support and declared a dividend of Rs.1.50 per equity share (99.65% in favour). A special resolution was passed authorising the bank to raise up to Rs.7,500 crore in capital during FY 2025-26 through modes such as FPO, Rights Issue, QIP, Preferential Issue, ESPS, or Basel III Bonds (99.99% approval). M/s Joshi & Joshi was appointed as the new Secretarial Auditor for a 5-year term (FY 2025-26 to 2029-30), and Shri Mrutyunjay Mahapatra was elected as Shareholder Director with a commanding 65.3 crore votes, far ahead of the other three candidates.
The Rs.7,500 crore capital-raising approval signals possible equity dilution ahead but also gives the bank flexibility to strengthen growth capital and Basel ratios. The Rs.1.50 dividend continues modest payouts to shareholders, and the new shareholder director adds fresh representation to the board.