Bank of India to raise Rs750cr through issue of Basel III compliant bonds; stock drops 3%

The bidding for the bonds will start on Friday and end on March 30 (settlement date).

Mar 25, 2021 11:03 IST India Infoline News Service

BankofIndia
Bank of India will raise up to Rs750cr by issuing Basel III compliant bonds. The issue size is Rs250cr plus a Green-shoe Option of Rs500cr.

The bidding for the bonds will start on 26 March and end on March 30 (settlement date). Minimum lot size of Rs1cr and in multiples of Rs1cr thereafter, the bank said in a regulatory filing on Wednesday.

At around 11.08 am, Bank of India was trading at Rs69.90 per piece down by Rs2.3 or 3.19% from its previous closing of Rs72.20 per piece on the BSE.

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