Proceedings of 22nd AGM along with Scrutinizer''s Report
Awaiting price reaction for this filing.
Bank of Maharashtra held its 22nd AGM on 30th June 2025 via video conferencing, attended by 108 members including a Government of India representative and 4 directors. Shareholders approved the audited financial statements for FY 2024-25 with 99.64% votes in favour. A dividend of Rs. 1.50 per equity share was declared for FY 2024-25, approved with 99.65% majority. A special resolution was passed to raise up to Rs. 7,500 crore of equity capital in FY 2025-26 through modes such as FPO, rights issue, QIP, preferential issue, ESPS, or BASEL III bonds, with near-unanimous support (99.996%). M/s Joshi & Joshi was appointed as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30). In the shareholder director election contested by four candidates, Shri Mrutyunjay Mahapatra won decisively with about 65.3 crore votes.
Approval of the Rs. 7,500 crore capital-raising plan signals potential equity dilution for shareholders in FY 2025-26, though it strengthens the bank's growth and Basel III capital position. The Rs. 1.50 per share dividend rewards existing shareholders, while strong voting margins on all resolutions indicate broad institutional and retail support for management's direction.