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Bank of India moves up on issuing Foreign Currency Bonds for $500 million

21 Mar 2013 Evaluate

Bank of India is currently trading at Rs 302.40, up by 2.70 points or 0.90% from its previous closing of Rs 299.70 on the BSE.

The scrip opened at Rs 302.00 and has touched a high and low of Rs 304.35 and Rs 298.45 respectively. So far 38002 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 392.20 on 18-Jan-2013 and a 52 week low of Rs 253.80 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs 331.00 and Rs 298.05 respectively. The current market cap of the company is Rs 17196.20 crore.

The promoters holding in the company stood at 62.72% while Institutions and Non-Institutions held 30.58% and 6.70% respectively.

Bank of India has issued the Foreign Currency Bonds for $500 million on March 14, 2013. The issue was oversubscribed by 5.4 times and is significant for being the first Bond transaction by the bank offered to the institutions of USA under Rule 144A. It was also the first Indian PSU Bank offering under Rule 144A in 2013.

The Bond priced at 280 basis points (bps) over US Treasury, the Bond has lowest coupon for any Indian 144A offering. The subscription to the Bonds was worldwide, with 46% coming in from Asia, 17% from Europe and the balance 37% from USA. The strong order book and pricing is a testimony to the credibility and strength of the bank’s franchise amongst the global investor base.

Bank of India has 52 foreign offices in 20 countries and over 25% of its business is sourced from overseas. It was also the first Indian Bank to venture abroad having opened a branch in London in 1946.

Bank Of India Share Price

149.80 1.45 (0.98%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1112.15
PNB 114.10
Canara Bank 144.35
Bank Of Baroda 284.10
Union Bank Of India 191.20
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