Bank of Maharashtra on Tuesday informed the stock exchanges that it has opened the qualified institutional placement issue, at a floor price of ₹24.89 a share. The bank said it might offer a discount of up to 5 per cent on the floor price to the institutional investors. On April 29, the board had approved raising up to ₹5,000 crore through equity and debt. Shares of Bank of Maharashtra closed at ₹24.30, up 1.9 per cent over the previous day’s close on the BSE.

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