The PSU bank announced plans to raise capital via issue of Basel-III compliant Additional Tier-I (AT-1) bonds aggregating to Rs 750 crore.
The issue comprises base issue of Rs 250 crore and green-shoe (over subscription) option of Rs 500 crore.
The bidding will take place on 26 March 2021 while the settlement and the allotment will take place on 30 March 2021. Investors can bid for a minimum lot size of Rs 1 crore and in multiples of Rs 1 crore thereafter.
The Government of India held 89.10% stake in Bank of India as on 31 December 2020.
The state-run lender reported 412.39% surge in net profit to Rs 541 crore in Q3 FY21 from Rs 106 crore in Q3 FY20. Total income fell 7.70% year-on-year (YoY) to Rs 12,310.92 crore during the quarter.
The scrip fell 2.84% to Rs 70.15 on the BSE. It traded in the range of 70.15 and 72.85 so far during the day.
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