Bank of India allots 2 crore shares to LIC for Rs 264.12 crore

Bank Of India | Bank - Public | BFSI | BSE: 532149 | NSE: BANKINDIA

07 Jan 2016 Evaluate

State-run Bank of India (BoI) has allotted 2 crore shares to Life Insurance Corporation of India (LIC) valued at Rs 264.12 crore. The bank has allotted 2 crore equity shares to LIC on preferential basis at the price of Rs 132.06 per share.

Bank of India is one of the five largest public sector banks in India, with GOI holding 64.43% as on June 30, 2015. The bank reported a net loss of Rs 1126.24 crore for the quarter ended September 30, 2015 as compared to net profit of Rs 786 crore for the same quarter in the previous year.

Peers

Company Name	CMP
State Bank Of India	993.50
PNB	118.25
Bank Of Baroda	237.00
Canara Bank	125.80
Union Bank Of India	179.60
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