BANK OF MAHARASHTRAInitial Public Offer<br />Misha’al Hamza<br />
About Bank of Maharashtra (BOM)<br />Bank of Maharashtra  one of the largest banks in Western India<br />Registered as a b...
Milestones<br />1936    :  Commenced business on February 8th<br />1945    :  Deposits crossed Rs. 1.00 crore mark<br />19...
Current Market Scenario<br />
Issue<br />Type of Issue – Equity<br />Equity Offered - 10,00,00,000 Shares<br />Face Value – Rs 10<br />Premium - 13.00<b...
Other Details<br />Lead Manager - SBI Capital Markets Ltd.<br />Listing – BSE and NSE<br />Issue Open : Wednesday February...
ELIGIBILITY OF THE BANK TO COME OUT WITH THE PUBLIC ISSUE<br />Clause 2.2 of the Guidelines specifies the eligibility requ...
MINIMUM SUBSCRIPTION<br />If the Bank does not receive the minimum subscription of 90% of the issue amount, on the date of...
ISSUE MANAGEMENT TEAM<br />   Lead Managers to the Issue<br />SBI CAPITAL MARKETS LTD.<br />KOTAK MAHINDRA CAPITAL COMPANY...
Others<br />Legal Advisor to the Issue<br />LITTLE & CO.<br /> <br />Auditors to the Issue<br />M/s Sridhar & Santhanam<br...
RIGHTS OF THE EQUITY SHAREHOLDERS<br />a) Right to receive dividend, if declared<br />b) Right to attend general meetings ...
Result…<br />Bank of Maharashtra had come out with a public issue of 10 crore shares. The issue was oversubscribed 12 time...
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Bank of Maharashtra - Initial Public Offer

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Bank of Maharashtra - Initial Public Offer

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Bank of Maharashtra - Initial Public Offer

  1. 1. BANK OF MAHARASHTRAInitial Public Offer<br />Misha’al Hamza<br />
  2. 2. About Bank of Maharashtra (BOM)<br />Bank of Maharashtra  one of the largest banks in Western India<br />Registered as a banking company on the 16th of September, 1935 at Pune<br />The authorized capital was Rs. 10 Lakhs and issued capital of Rs. 5 Lakhs.   <br />
  3. 3. Milestones<br />1936    :  Commenced business on February 8th<br />1945    :  Deposits crossed Rs. 1.00 crore mark<br />1969    :  The Bank was nationalized with 153 branches<br />1987    :  1000th branch of theBank opened at IndiraVasahat, Pune<br />2004    :  Bank came up with Initial Public Offering (IPO)<br />2009    :  1444 branches, 345 ATMs, Total Business over Rs. 90,000 crore, 902 CBS branches.<br />
  4. 4. Current Market Scenario<br />
  5. 5. Issue<br />Type of Issue – Equity<br />Equity Offered - 10,00,00,000 Shares<br />Face Value – Rs 10<br />Premium - 13.00<br />Issue Value – 230 Crores<br />
  6. 6. Other Details<br />Lead Manager - SBI Capital Markets Ltd.<br />Listing – BSE and NSE<br />Issue Open : Wednesday February 25th, 2004<br />Issue Closed : Thursday March 4th, 2004<br />
  7. 7. ELIGIBILITY OF THE BANK TO COME OUT WITH THE PUBLIC ISSUE<br />Clause 2.2 of the Guidelines specifies the eligibility requirements for Public Issue by Unlisted Company<br />Clause 2.4.1, however, exempts a banking company from these requirements<br />In terms of Clause 2.4.1, the Bank is eligible to come out with Public Issue<br />The Bank had received necessary approval for making the Issue through the fixed price route<br />
  8. 8. MINIMUM SUBSCRIPTION<br />If the Bank does not receive the minimum subscription of 90% of the issue amount, on the date of closure of the Issue, or if the subscription level falls below 90% after the closure of the Issue on account of cheques having been returned unpaid or withdrawal of applications, the Bank shall forthwith refund the entire subscription amount received. If there is delay beyond 8 days after the Bank becomes liable to pay the amount, the Bank shall pay interest as per Section 73 of the Companies Act, 1956<br />
  9. 9. ISSUE MANAGEMENT TEAM<br />  Lead Managers to the Issue<br />SBI CAPITAL MARKETS LTD.<br />KOTAK MAHINDRA CAPITAL COMPANY LIMITED<br />ENAM FINANCIAL CONSULTANTS PRIVATE LIMITED<br />A. K. CAPITAL SERVICES LIMITED <br />ALLIANZ SECURITIES LIMITED<br /> <br /> Co-Managers to the Issue<br />KARVY INVESTOR SERVICES LTD.<br /> <br /> Registrar to the Issue<br />MCS LIMITED<br />
  10. 10. Others<br />Legal Advisor to the Issue<br />LITTLE & CO.<br /> <br />Auditors to the Issue<br />M/s Sridhar & Santhanam<br />M/s N. Kumar Chhabra & Co.<br />M/s JCR & Co.<br />M/s Jodh Joshi & Co.<br />M/s M. Mittal & Aggarwal<br />M/s JagdishChand & Co<br />
  11. 11. RIGHTS OF THE EQUITY SHAREHOLDERS<br />a) Right to receive dividend, if declared<br />b) Right to attend general meetings and exercise voting powers, unless prohibited by law<br />c) Right to vote either personally or by proxy, subject to Section 3(2E) of the Bank Nationalization Act.<br />
  12. 12. Result…<br />Bank of Maharashtra had come out with a public issue of 10 crore shares. The issue was oversubscribed 12 times.<br />ie Equal to 120 Crore shares were subscribed<br />
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