Bank of India to raise Tier I and Tier II Capital

Bank of India has announced that the Board of Directors of the Bank has approved to raise Tier I and Tier II Capital through issuance of Equity Shares Innovative Perpetual Debt Instruments, Preference Shares, Tier II Bonds and Upper Tier II Capital Bonds to the extent required upto a maximum extent of Rs. 10,286 crore at the appropriate time after obtaining necessary approvals.

The stock was trading at Rs.462.40, up by Rs.25.85 or 5.92%. The stock hit an intraday high of Rs.464 and low of Rs.433.85.

The total traded quantity was 461565 compared to 2 week average of 233040.

Source : Equity Bulls

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