Bank of India (BoI) is likely to issue equity shares on a preferential basis to the Government of India (GOI) for capital infusion of Rs 2455 crore. In this regard, the Board of Directors have decided to convene an Extra-Ordinary General Meeting (EGM) of the shareholders of the Bank on September 28, 2015, to get the shareholders' approval for the proposed preferential Issue of equity shares to GOI, by way of Special Resolution.
BoI is commercial bank with headquarters in Mumbai, Maharashtra, India. Beginning with one office in Mumbai, with a paid-up capital of Rs 50 lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks.
