Bank Of India Gains Over 1% After Board Approves QIP Launch To Raise Capital

Bank Of India Share Price Today: On Thursday, Bank of India opened on the BSE at Rs 66.75, registering an intra day high of Rs 66.50 and an intra day low of Rs 65.05

Bank Of India Gains Over 1% After Board Approves QIP Launch To Raise Capital

Shares of Bank of India settled 1.23 per cent higher at Rs 65.70 apiece on the BSE.

Share price of Bank of India gained more than one per cent on Thursday, August 26, a day after the board approved the launch of qualified institutional placement (QIP) aimed at raising capital. On Thursday, Bank of India opened on the BSE at Rs 66.75, registering an intra day high of Rs 66.50 and an intra day low of Rs 65.05, throughout the trading session today. Bank of India's board of directors approved the launch of QIP at a floor price of Rs 66.19 per equity share, aimed at raising Rs 3,000 crore equity capital.

The board approved the floor price of Rs. 66.19 per equity share for the issue under the market regulator SEBI's Issue of Capital and Disclosure Requirements (ICDR) regulations, according to a regulatory filing by the bank to the stock exchanges yesterday.

Bank of India reported a net profit of Rs 720 crore in the April-June quarter of the financial year 2021-22, compared to a profit of Rs 843.60 crore in the corresponding quarter last year, registering a decline of 14.7 per cent year-on-year.

The bank's gross non-performing assets (NPAs) declined marginally to 13.51 per cent of the gross advances in the first quarter of the current fiscal, compared to 13.91 per cent in the corresponding period last year.

On the NSE, Bank of India opened at Rs 65.75, touching an intra day high of Rs 66.35 and an intra day low of Rs 65.10, in the session today. 

On Thursday, shares of Bank of India settled 1.23 per cent higher at Rs 65.70 apiece on the BSE.