Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent. Currently, Government of India holds 81.41 per cent stake in the Mumbai-based bank.
Public sector banks have time till August 2024 for meeting the Securities and Exchange Board of India (Sebi) requirement. Post share-sale, depending on the quantum, the holding of Government of India would come down below 75 per cent.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.