Bank of India (BoI) has raised Basel III-compliant Tier II bonds of Rs 2,500 crore to fund business growth. The base issue size was Rs 1,000 crore with a green shoe option of Rs 1,500 crore. The bonds have a coupon rate of 7.28 per cent per annum.
The Tier II capital is raised for augmenting the overall capital of the bank and for enhancing the long-term resources in accordance with the RBI guidelines. The funds raised by the bank through this issue are not meant for financing any particular project and the bank will utilise the proceeds of this issue for its normal business activities.
Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
| 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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