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Bank of Maharashtra has, as approved by the board of directors, proposed to issue up to 15,33,25,013 shares and up to 2,40,85,627 fresh equity shares of Rs 10 each, respectively, to the Government of India and Life Insurance Corporation of India at Rs 56.09 per equity share by way of preferential allotment. The relevant date for the preferential allotment is February 24.
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