Bank of Maharashtra raises ₹710 cr from bonds for business growth

State-owned Bank of Maharashtra (BoM) on Wednesday said that it has raised ₹710 crore from bonds to fund business growth. According to BoM, the capital was raised via Basel III compliant Additional Tier 1 bonds of ₹710 crore at a coupon rate of 8.74%. The issue reportedly garnered overwhelming response from investors as the issue was subscribed by 10 times.