Bank of India approves capital raising plan of upto Rs. 2500 crores

The Board of Directors of Bank of India at its Meeting held today, 25th April, 2022, has considered and approved the capital raising plan upto Rs.2,500 crores by issue of fresh Equity Capital in the form of QIP / FPO / Preferential Issue.

The main purpose of capital raising plan is to increase the minimum public shareholding from the present 18.59% to 25% or above in order to comply with the minimum public shareholding requirements.

For this purpose, Bank has decided to obtain the permission of shareholders in the ensuing Annual General Meeting / Extra-ordinary General Meeting called for this purpose.

Shares of Bank of India was last trading in BSE at Rs. 48.75 as compared to the previous close of Rs. 49.50. The total number of shares traded during the day was 204354 in over 1107 trades.

The stock hit an intraday high of Rs. 49.65 and intraday low of 48.55. The net turnover during the day was Rs. 9978692.00.

Source : Equity Bulls

Keywords

BankofIndia INE084A01016 BOI FundRaising CapitalRaisingPlan