{"id":34473,"date":"2022-04-07T15:51:31","date_gmt":"2022-04-07T10:21:31","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-bank-of-maharashtra-2\/"},"modified":"2022-04-07T16:20:16","modified_gmt":"2022-04-07T10:50:16","slug":"biz-bank-of-maharashtra-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-bank-of-maharashtra-2\/","title":{"rendered":"Bank of Maharashtra to divest entire 4% stake in ISARC"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-998207435\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Apr 7 (PTI) Public sector lender Bank of Maharashtra on Thursday said it will divest its entire stake of 4 per cent in India SME Asset Reconstruction Company for nearly Rs 4 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-497587605\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Bank of Maharashtra (BoM) has executed a share purchase agreement dated April 6, 2022 for sale of entire equity stake of 4 per cent in India SME Asset Reconstruction Company Ltd (ISARC), the bank said in a regulatory filing.<\/p>\n<p> The bank&#8217;s 4 per cent stake, equivalent to 40,00,000 equity shares, will be sold at Rs 9.80 per share for a cash consideration for Rs 3.92 crore, it said.<\/p>\n<p> The stake sale is subject to RBI approval for change in sponsor shareholder of ISARC. The transaction is expected to be completed by the end of December, 2022.<\/p><div class=\"trade-content_5\" id=\"trade-938213291\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> ISARC&#8217;s total income stood at Rs 11.09 crore in the fiscal ended March 2021, and net profit was Rs 0.36 crore. It had reported losses of Rs 8.39 crore in FY20 and Rs 9.21 crore in FY19.<\/p>\n<p> ISARC is the country&#8217;s first Asset Reconstruction Company (ARC), supported by a large number of public sector banks and undertakings, focussed on NPA resolution of the MSME sector.<\/p>\n<p> The ARC is sponsored by SIDBI, Bank of Baroda, Punjab National Bank, and SIDBI Venture Capital Ltd.<\/p>\n<p> BoM stock closed at Rs 18.80 apiece on BSE, up 0.27 per cent from the previous close of Rs 18.75. PTI KPM  KPM HVA HVA<\/p>\n<div class=\"trade-after-content\" id=\"trade-2872167027\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 7 (PTI) Public sector lender Bank of Maharashtra on Thursday said it will divest its entire stake of 4 per cent in India SME Asset Reconstruction Company for nearly Rs 4 crore. Bank of Maharashtra (BoM) has executed a share purchase agreement dated April 6, 2022 for sale of entire equity stake [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-34473","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of Maharashtra to divest entire 4% stake in ISARC - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-bank-of-maharashtra-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Maharashtra to divest entire 4% stake in ISARC\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 7 (PTI) Public sector lender Bank of Maharashtra on Thursday said it will divest its entire stake of 4 per cent in India SME Asset Reconstruction Company for nearly Rs 4 crore. 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