Bank of India Raises Rs 2,690 Crore Through Infrastructure Bonds, Shares in Focus

Bank of India (BoI) has successfully raised Rs 2,690 crore through 10-year infrastructure bonds at a 7.50% interest rate. The state-owned lender's bond issuance, conducted via the NSE Electronic Bidding Platform, attracted bids worth Rs 8,845 crore, nearly 5.9 times the base issue size of Rs 1,500 crore. The bank accepted 26 successful bids at the cut-off rate. Proceeds from the bonds will fund long-term infrastructure projects and affordable housing, in line with RBI guidelines. This marks BoI's third infrastructure bond issuance in the current financial year, bringing its total fundraising to Rs 12,500 crore over the past nine months through various bond offerings.
Source: Economic Times, Business Standard, Zee Business