Bank of India moves up on getting nod to raise Rs 2,500 crore
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Bank of India is currently trading at Rs. 49.40, up by 0.65 points or 1.33% from its previous closing of Rs. 48.75 on the BSE.
The scrip opened at Rs. 49.10 and has touched a high and low of Rs. 49.90 and Rs. 49.10 respectively. So far 36738 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 86.95 on 07-Jun-2021 and a 52 week low of Rs. 43.30 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 50.30 and Rs. 48.55 respectively. The current market cap of the company is Rs. 20004.88 crore.
The promoters holding in the company stood at 81.41%, while Institutions and Non-Institutions held 11.79% and 6.80% respectively.
Bank of India’s board has approved the capital raising plan upto Rs 2,500 crore by issue of fresh Equity Capital in the form of QIP / FPO / Preferential Issue. The main purpose of capital raising plan is to increase the minimum public shareholding from the present 18.59% to 25% or above in order to comply with the minimum public shareholding requirements as per the Security Contracts (Regulation) Rules, 1957 and SEBI (LODR) Regulations, 2015. The Board of Directors of the Bank at its Meeting held on April 25, 2022, has considered and approved the same.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
