Bank of India updates on BASEL III Compliant Tier II Bonds of Rs.2.000 Crore

Bank of India has come out with issue of Basel III Compliant Tier II Bonds amounting to Rs.2,000 Crore (Including base size of Rs 1,000 crore and Green Shoe option of Rs 1,000 Crore).

The Bank has received total Bid of Rs 3,770 Crore in overwhelming response from Investors and the issue was oversubscribed by 3.77 times against the base issue size. Further, Bank has decided to accept bids of Rs 2,000 Crore at coupon rate of 7.88%.

Shares of Bank of India was last trading in BSE at Rs. 103.67 as compared to the previous close of Rs. 98.33. The total number of shares traded during the day was 1964068 in over 8869 trades.

The stock hit an intraday high of Rs. 104.70 and intraday low of 96.72. The net turnover during the day was Rs. 199033900.00.

Source : Equity Bulls

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BankofIndia INE084A01016 FundRaising Basel3Compliant Tier2Bonds