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Bank of Maharashtra raises 5B rupees via bond issuance

Bank of Maharashtra raised 5 billion rupees through an issuance of Additional Tier 1 bonds on a private placement basis.

The Basel III-compliant unsecured perpetual nonconvertible bonds will be listed on the wholesale debt market segment of the BSE and National Stock Exchange of India, the bank said Dec. 16.

As of Dec. 15, US$1 was equivalent to 67.83 Indian rupees.