MoneyWorks4Me

Bank of India gets nod to raise Rs 6,500 crore

19 Apr 2023 Evaluate

Bank of India (BoI) has received an approval to raise Rs 6,500 crore from various means to fund business growth in 2023-24. The bank is planning to raise funds by issuance of fresh equity capital in the form of qualified institutional placement or rights issue or preferential issue and/or Basel III compliant Additional Tier-1 (AT-1) bonds (domestic and foreign currency) up to an amount of Rs 4,500 crore. The remaining Rs 2,000 crore is planned to be raised by issuance of Basel III compliant Tier-2 bonds. The proposal in this regard was cleared by the board in a meeting held on April 18, 2023.

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

Peers
Company Name CMP
State Bank Of India 955.90
PNB 116.55
Bank Of Baroda 237.60
Canara Bank 120.20
Union Bank Of India 171.50
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