BoI plans to raise up to Rs 8,000 cr in tier-I and tier-II capital

Lender to also set off accumulated losses worth Rs 23,782 cr

Public sector lender Bank of India plans to raise capital up to Rs 8,000 crore by issuing equity shares, tier-I and tier II bonds to support credit expansion and meet regulatory norms.

The lender also proposes to set off accumulated losses worth Rs 23,782.38 crore against amount from the share premium account of Rs 35,331.77 crore.

It is seeking shareholders' nod for both the proposals and has called an Extraordinary General Meeting (EGM) on September 19. BoI shares closed 1.6 per cent higher at 48.45 per share on BSE.

Referring to capital raising plans BoI said in a filing with