Bank of India raises ₹2,500 crore through bond issue
after close1 source ↓written by the desknot a recommendation
- through its Tier
- ₹2,500 crore
- attracting bids worth
- ₹4,982 crore
- and were issued
- 7.28%
- each
- ₹1 crore
Bank of India successfully raised ₹2,500 crore through its Tier II bond issue, attracting bids worth ₹4,982 crore. The bonds, compliant with Basel III norms, feature a fixed coupon rate of 7.28% and were issued in denominations of ₹1 crore each. This capital infusion strengthens the bank's financial position.
The issuance reflects strong investor interest and may enhance liquidity in the banking sector, positively impacting market sentiment.
Not investment advice. For informational purposes only.