Bank of India approves issue of Equity Share Capital To Government Of India Proposed Plan For Raising Capital During 2017-18

Bank of India has on 31/03/2017 received infusion of Rs.1500 crore from the Government of India, in the form of Common Equity Tier-1 Capital, which is being kept as share application money and would be allotted after following due procedure / conditions for allotment.

The infusion is in terms of the Ministry of Finance, Department of Financial Services, Government of India, Communication no. F No. F/38/2014-BOA dated 16/03/2017.

The Bank is also seeking approval, by circulation, from the Board for a plan to raise capital during 2017-18.

Shares of BANK OF INDIA was last trading in BSE at Rs.139.4 as compared to the previous close of Rs. 138.6. The total number of shares traded during the day was 910820 in over 3857 trades.

The stock hit an intraday high of Rs. 142.4 and intraday low of 137.45. The net turnover during the day was Rs. 127511328.

Source : Equity Bulls

Keywords