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Bank of Maharashtra's board has approved allotment of 13,33,63,574 equity shares on preferential basis to the Government of India and 9,07,23,520 shares to Life Insurance Corporation of India and its schemes at a price of Rs 44.09 per share.
The Pune-based bank will get equity capital of Rs 588 crore from the Government of India, and Rs 400 crore from LIC in Tier-I capital in the current quarter.
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