Bank of India board approves fund raising of Rs. 4,800 crores

The Board of Directors of Bank of India at its meeting held on Friday, 30th April, 2021, have considered and approved the raising of Capital aggregating upto Rs.4,800 Crores in the following manner:

- By issue of fresh Equity capital in the form of FPO / QIP and / or Basel III Compliant Additional Tier-1 (AT-1) bonds (domestic and foreign currency) upto an amount of Rs.3,000 Crores

- By issue of Basel III compliant Tier-2 bonds upto an amount of Rs.1,800 Crores.

For this purpose, Bank has decided to obtain the approval of shareholders in the ensuing Annual General Meeting / Extraordinary General Meeting called for this purpose.

Shares of BANK OF INDIA was last trading in BSE at Rs.66.35 as compared to the previous close of Rs. 67.45. The total number of shares traded during the day was 316573 in over 1293 trades.

The stock hit an intraday high of Rs. 67.75 and intraday low of 65.65. The net turnover during the day was Rs. 21235209.

Source : Equity Bulls

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