Bank of Maharashtra (BSE:532525) announced a private placement of shares for gross proceeds of up to INR 6,500,000,000 on January 3, 2018. The transaction will include participation from existing investor Government of India. The securities will be issued on preferential basis. The transaction has been approved by board of directors of the company and is subject to necessary approvals. The relevant date for ascertaining the issue price pursuant to Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations, 2009 as amended is determined as Wednesday, January 17, 2018.