Bank of India invests nearly Rs 109 cr in NARCL

Bank of India (BoI) on Monday said it has invested nearly Rs 109 crore in National Asset Reconstruction Company Ltd (NARCL).

"We hereby inform that on March 21, 2022, bank has invested Rs 108.81 crore in National Asset Reconstruction Company Ltd (NARCL), under preferential share issue," the bank said in a regulatory filing.

The bank's shareholding in NARCL will come to 9 per cent as on March 21, 2022.

Incorporated in July 2021, NARCL is an asset reconstruction company backed by the government.

Shares of BoI closed at Rs 47.50 apiece on BSE, down by 1.14 per cent from previous close.