Bank of India to raise Rs 204 crore by issuing shares to LIC

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

31 Mar 2017 Evaluate

Bank of India has decided to raise Rs 204.42 crore by issuing shares to Life Insurance Corporation of India (LIC). The shareholders at the extra ordinary general meeting held on March 30, 2017 approved to allot 1.75 crore shares on preference basis to LIC at Rs 116.81 per share.

The Bank has reported a net profit of Rs 101.72 crore for the quarter ended December 31, 2016, as compared to net loss of Rs 1505.58 crore for the same quarter in the previous year. Total income of the bank increased by 4.57% at Rs 11594 crore for quarter under review as compared to Rs 11086.95 crore for the quarter ended December 31, 2015.

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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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
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Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
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