The Bank of Maharashtra has announced that the bank will issue unsecured, non-redeemable subordinated tier-II bonds in the nature of promissory notes to the extent of Rs 200 crore to augment the bank`s capital adequacy requirements.

The bonds will carry coupon rate of 9.20% p.a. for a period of 123 month, public sector bank said in a release.

The issue opens on January 11 and closes on January 14, and the deemed date of allotment is January 15.

The bank presently holds market cap worth Rs. 3507 crore, PE Ratio of 10.90; EPS of 7.47 and BV of 39.85. The bank registered a net profit of Rs 90 crore for the quarter ended September 2007 as against Rs. 61 crore in same quarter of last year.

The stock closed today at Rs.82 on NSE, down by 3% as compared with previous close of Rs. 84.50. It touched an intraday high of Rs. 85 and low of 77.