Bank of India directors to consider raising funds on August 3, shares surge

Bank of India on Wednesday said that its Board of Directors will consider raising funds through several options including further issue of equity shares and bonds at its meeting on August 3.

Shares of the bank surged after the announcement. At 12.05 p.m., its shares on the BSE were trading at Rs 47.20, higher by 3.17 per cent from the previous close.

"The Board of Directors of the Bank of India would be considering at their meeting proposed on August 3, 2020, the proposal of raising funds including by way of a further issue of equity shares, bonds etc. through