Bank of India raises Rs. 5000 crores through long term bonds

Bank of India has come out with issue of Long Term Bonds (Infrastructure) amounting to Rs.5,000 crore on a Private Placement Basis.

The bank has received total Bids amounting to Rs.13,700 crore in overwhelming response from investors and the issue was oversubscribed by 6.85 times against the base issue size of Rs.2,000 crore. Further, Bank has decided to accept bids of Rs.5,000 crore at coupon rate of 7.41% p.a.

Shares of Bank of India was last trading in BSE at Rs. 111.50 as compared to the previous close of Rs. 107.75. The total number of shares traded during the day was 486893 in over 2486 trades.

The stock hit an intraday high of Rs. 111.90 and intraday low of 107.35. The net turnover during the day was Rs. 53328831.00.

Source : Equity Bulls

Keywords

BankofIndia INE084A01016 FundRaising INR5000Crore PrivatePlacement