Bank of Maharashtra

Cessation of Chief Vigilance Officer

• Shri Amit Srivastava, Chief Vigilance Officer, retired on 30 Sep 2026 due to superannuation; tenure not disclosed.

MCLR revision details

• Bank of Maharashtra revises MCLR; rate changes effective 30 September 2026.
• Overnight MCLR: 7.05% from 7.10%.
• One-month MCLR: 7.90% from 8.15%.
• Three months MCLR: 8.40% from 8.60%.
• Six months MCLR: 8.70% from 8.85%.
• One year MCLR: 9.05% from 9.00%.
• Disclosure under Regulation 30 SEBI LODR.

NCD Interest & Redemption Details

• Interest payment made on 25 September 2026 for ISIN INE457A08035.
• Issue size Rs 500 crore; interest due Rs 11,09,04,109.59 (including TDS).
• Interest payment frequency: annually; record date 12 September 2026; due date 27 September 2026.
• Actual interest payment date: 25 September 2026; amount Rs 11,09,04,109.59; last paid 29 June 2026.
• Redemption: full redemption of 5,000 NCDs; Rs 500 crore; due date 27 September 2026; actual 25 September 2026.
• Reason for redemption: maturity.

Instruments & Rating Action

• Final BBB- rating assigned to Bank of Maharashtra's USD500m senior unsecured notes due 2031.
• Notes issued by BOM's International Financial Services Centre Banking Unit.
• Pari passu with BOM's other unsubordinated unsecured obligations.
• xgs rating for notes: BB(xgs).
• Rating agency: Fitch Ratings.

Rationale & Sovereign Linkage

• Final BBB- aligns with BOM's Long-Term IDR BBB-/Stable and sovereign support.
• High probability of government support due to 73.6% ownership.
• ESG relevance: Governance score 4; government board influence acknowledged.

Outlook & Sensitivities

• Outlook for BOM IDR is Stable; notes mirror this.
• Downgrade of BOM IDR would downgrade notes' rating.
• Upgrade of BOM IDR would upgrade notes' rating.
• Material change: final rating matches prior expected BBB- from Sept 17, 2026.

Investor meet update

• Bank participated in one-on-one and group meetings with prospective investors from 8 Sep to 24 Sep 2026.
• Public information discussed; no unpublished price-sensitive information was shared.
• Disclosures are made in compliance with SEBI LODR Regulation 30 and related provisions.

Bank of Maharashtra: Trading Window shall remain closed from 1 October 2026 upto 48 hours after the declaration of Financial Results for the Quarter ending 30 September 2026

Strike notice and potential impact

• United Forum of Bank Unions proposes strikes on 28–30 September 2026.
• Bank to implement steps to maintain smooth functioning during strike days.
• If the strike materializes, branch and office operations may be affected.

Rating action details

• BBB rating assigned to Bank of Maharashtra USD 500m MTN notes due 2031.
• Notes issued under the USD 500 million MTN Programme.
• Rating agency: S&P Global Ratings.
• Rating date: 21 September 2026.
• This is a new rating for the issuer.
• Rationale is published on S&P Global Ratings' website.

Interest payment on NCD INE457A08142

• ISIN is INE457A08142.
• Issue size is Rs. 515.00 crore.
• Interest amount due on due date is Rs. 41,09,70,000.00.
• Frequency is annually.
• Interest payment record date is 03 September 2026.
• Due date for interest is 18 September 2026.
• Actual date of interest payment is 18 September 2026.
• Amount of interest paid is Rs. 41,09,70,000.00.
• Date of last interest payment is 18 September 2025.
• Reason for non-payment/delay is N.A.

MTN issuance details

• Concluded issuance of Senior Unsecured Fixed Rate Notes under the USD 500 million MTN programme.
• Notes amount: USD 500 million; maturity: 5 years; coupon: 6.112% per annum; semi-annual.
• Issue through IFSC Banking Unit at GIFT City; effective date: September 24, 2026.
• Listing to be on India INX and NSE IX.
• Regulatory basis: Regulation S of the U.S. Securities Act, 1933.
• MTN programme established on September 4, 2026.