Bank Of India Falls After Issuing Basel III Compliant Bonds Worth Rs 750 Crore

Share of Bank of India fell over three per cent on Thursday, March 25, after the bank said it will raise Rs 750 crore by issuing basel III compliant bonds. According to a regulatory filing by the bank to BSE, the bidding for the bonds will start on March 26 and will end on March 30. On Thursday, Bank of India opened on the BSE at Rs 72.85, touching an intra day high of Rs 72.85 and an intra day low of Rs 67.65, in the trading session so far.

According to the regulatory filing, the bank has uploaded the information memorandum on the national stock exchange for raising capital by issuing Basel III compliant tier 1 bonds for the base issue size of Rs 250 crore and green shoe option of Rs 500 crore. The total amount aggregates to Rs 750 crore.

Bank of India shares last traded 3.12 per cent lower at Rs 69.95 on the BSE. Meanwhile, on the NSE, Bank of India shares opened at Rs 72.40, touching an intra day high of Rs 72.65 and an intra day low of Rs 67.75, in the trading session so far.  On the NSE, Bank of India shares last traded 3.05 per cent lower at Rs 69.90.