Bank of India raises Rs 2,500 cr Tier II Bonds | Capital Market News

Last Updated : Sep 25 2024 | 6:04 PM IST

Bank of India has come out with issue of Basel III Compliant Tier II Bonds amounting to Rs.2,500 crore (Including base size of Rs 1,000 crore and Green Shoe option of Rs 1,500 crore).

Bank received total Bid of Rs 6,046 crore in overwhelming response from Investors and the issue was oversubscribed by 6.05 times against the base issue size. Further, Bank has decided to accept bids of Rs 2,500 crore at coupon rate of 7.49%.

The deemed date of allotment is 26 September 2024.

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First Published: Sep 25 2024 | 5:44 PM IST