Bank of India will raise up to Rs 13,006 crore through issuance of innovative perpetual debt instruments, preference shares, tier II bonds and upper tier II capital bonds.
The board of directors of the bank have approved to raise tier I and tier II capital.
Recently, Union Bank of India raised Rs 500 crore through the issue of tier II bonds to meet its business growth requirements.
Similarly, public sector lender Syndicate Bank is also planning to raise Rs 150 crore through the sale of perpetual bonds.
