Bank of India soars on raising Rs 2,500 crore via Tier II Bonds
Bank of India is currently trading at Rs. 141.05, up by 2.85 points or 2.06% from its previous closing of Rs. 138.20 on the BSE.
The scrip opened at Rs. 139.00 and has touched a high and low of Rs. 141.75 and Rs. 138.85 respectively. So far 314577 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 151.35 on 26-Nov-2025 and a 52 week low of Rs. 90.00 on 13-Jan-2025.
Last one week high and low of the scrip stood at Rs. 143.70 and Rs. 136.70 respectively. The current market cap of the company is Rs. 64192.62 crore.
The promoters holding in the company stood at 73.38%, while Institutions and Non-Institutions held 19.87% and 6.75% respectively.
Bank of India (BoI) has raised Basel III-compliant Tier II bonds of Rs 2,500 crore to fund business growth. The base issue size was Rs 1,000 crore with a green shoe option of Rs 1,500 crore. The bonds have a coupon rate of 7.28 per cent per annum.
The Tier II capital is raised for augmenting the overall capital of the bank and for enhancing the long-term resources in accordance with the RBI guidelines. The funds raised by the bank through this issue are not meant for financing any particular project and the bank will utilise the proceeds of this issue for its normal business activities.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
