Bank of India gains on raising Rs 1,500 crore through bonds
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Bank of India is currently trading at Rs. 83.60, up by 0.50 points or 0.60% from its previous closing of Rs. 83.10 on the BSE.
The scrip opened at Rs. 82.80 and has touched a high and low of Rs. 84.50 and Rs. 82.55 respectively. So far 277225 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 85.50 on 29-Nov-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. 85.50 and Rs. 79.65 respectively. The current market cap of the company is Rs. 34244.26 crore.
The promoters holding in the company stood at 81.41%, while Institutions and Non-Institutions held 11.96% and 6.63% respectively.
Bank of India has raised Rs 1,500 crore through Basel-compliant Additional Tier 1 (AT-1) bonds. The bond issue was oversubscribed 12 times and the coupon rate is 8.57 per cent per annum. The issue consisted of Rs 500 crore base issue and a green-shoe option of Rs 1,000 crore. The proceeds will be used to shore up the regulatory and growth capital requirements of the bank.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
