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Bank of India planning to raise Rs 750 crore by issuing Basel III compliant bonds

25 Mar 2021 Evaluate

Bank of India is planning to raise capital by issuing of Basel III compliant additional tier I bonds for base issue size of Rs 250 crore plus green-shoe option of Rs 500 crore (aggregating to Rs 750 crore). The minimum lot size of the bond issue will be of Rs 1 crore and in multiples of Rs 1 crore thereafter. The bidding for the Basel III compliant additional tier I bonds will start on March 26, 2021 and end on March 30, 2021 (settlement date).

Under the Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes. These norms are implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.

Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.

Bank Of India Share Price

149.75 1.65 (1.11%)
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Peers
Company Name CMP
SBI 1113.10
PNB 114.70
Canara Bank 143.65
Bank Of Baroda 281.90
Union Bank Of India 189.45
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