Bank of India shares closed 0.78% up at Rs 96.30 on BSE
According to sources, value of the transaction is Rs 540 crore, valuing the company at Rs 3,000 crore
S&P has lowered its long-term issuer credit rating on BoI to 'BB+' from 'BBB-' because of continued pressure on asset quality
This is the bank's third straight quarterly loss; reports record loss of Rs 6,089 cr for FY16, highest among PSU banks