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Bank of Maharashtra issue oversubscribed

Our Bureau

Mumbai , March 4

THE Rs 230-crore public issue of Bank of Maharashtra is understood to be oversubscribed nearly six times.

The issue is said to have witnessed active participation from FIs and banks. As on Wednesday, the issue had been oversubscribed 3.5 times and should have doubled on Thursday, said merchant banking sources.

The issue offering 10,00,00,000 shares at Rs 23 (face value Rs 10 plus premium Rs 13) had opened on February 25, 2004.

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