Fixation of Specified date for election of shareholder director
Awaiting price reaction for this filing.
Bank of Maharashtra is conducting an election to fill one vacant Shareholder Director seat at its upcoming Annual General Meeting. The Bank raised Rs. 3,500 crore via QIP in October 2024, increasing public shareholding to 20.40%, which makes it eligible for two shareholder directors. One director, Shri Praveen Kumar, was already elected in June 2024. A previous attempt to fill the second seat via an EGM in January 2025 failed due to lack of valid nominations. The Board has now fixed 23rd May 2025 as the cut-off date to identify eligible shareholders, with 10th June 2025 as the last date to file nominations.
This is a routine governance filing with no material impact on shareholders or stock price. Shareholders other than the Central Government will get a direct voting right to elect one director to the Bank's Board.