Bank of India gains on getting nod to raise Rs 6,500 crore
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Bank Of India is currently trading at Rs. 80.89, up by 0.12 points or 0.15% from its previous closing of Rs. 80.77 on the BSE.
The scrip opened at Rs. 81.00 and has touched a high and low of Rs. 82.22 and Rs. 80.55 respectively. So far 607322 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.50 on 15-Dec-2022 and a 52 week low of Rs. 40.40 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 82.22 and Rs. 74.79 respectively. The current market cap of the company is Rs. 33144.50 crore.
The promoters holding in the company stood at 81.41%, while Institutions and Non-Institutions held 13.02% and 5.56% respectively.
Bank of India (BoI) has received an approval to raise Rs 6,500 crore from various means to fund business growth in 2023-24. The bank is planning to raise funds by issuance of fresh equity capital in the form of qualified institutional placement or rights issue or preferential issue and/or Basel III compliant Additional Tier-1 (AT-1) bonds (domestic and foreign currency) up to an amount of Rs 4,500 crore. The remaining Rs 2,000 crore is planned to be raised by issuance of Basel III compliant Tier-2 bonds. The proposal in this regard was cleared by the board in a meeting held on April 18, 2023.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
