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Bank of India to raise INR2,690 crore via long-term bonds

February 21, 2025 at 08:54 AM UTCBy FilingReader AI

Bank of India (BSE: BANKINDIA) announced it will raise ₹2,690 crore through the issuance of long-term infrastructure bonds. The bank received bids totaling ₹8,850 crore, resulting in an oversubscription of 5.90 times the base issue size of ₹1,500 crore. The bonds are unsecured, subordinated, redeemable, non-convertible, taxable, listed, and fully paid-up, with a face value of ₹1 lakh each. The coupon rate is set at 7.50% per annum. The issue opened and closed on February 14, 2025, with allotment deemed to be completed by February 18, 2025. A total of 26 bids were accepted out of 94 received through the NSE Electronic Bidding Platform.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

BSE:BANKINDIABombay Stock Exchange

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