Scrutinizer''s Report on 22nd AGM
Awaiting price reaction for this filing.
Bank of Maharashtra held its 22nd AGM on 30th June 2025 via video conferencing, attended by 108 members. Shareholders approved the audited financial statements for FY ending 31st March 2025 with 99.64% assent and declared a dividend of Rs.1.50 per equity share for FY 2024-25, which also passed with 99.65% support. A special resolution to raise equity capital of up to Rs.7,500 crore for FY 2025-26 through modes such as FPO, rights issue, QIP, preferential issue, ESPS, or BASEL III bonds was approved with near-unanimous support (99.99%). The appointment of M/s Joshi & Joshi as Secretarial Auditor for a 5-year term (FY 2025-26 to 2029-30) was also cleared. In the shareholder director election, Shri Mrutyunjay Mahapatra won with 65.28 crore votes, defeating three other candidates by a wide margin.
Shareholders gain clarity on a Rs.1.50 per share dividend for FY25 and have greenlit a large Rs.7,500 crore capital raise plan, which may lead to equity dilution depending on the mode chosen. The stock could see near-term movement around the capital-raising decision and ex-dividend date.