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.
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