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Bank of India Ltd Updates On Raising Of Tier-I Capital


Friday, 1 Feb 2013 01:07am EST 

Bank of India Ltd announced that with reference to the announcement made on January 08, 2013, regarding the Board of Directors in their meeting held on January 08, 2013, have approved the raising of Tier-I capital by issue of fresh equity shares to the Government of India (Promoters) or to other investors, on preferential basis or otherwise, subject to necessary approvals, Bank of India now announced that the Bank has decided to create, offer, issue and allot upto 22,121,957 equity shares of INR10 each for cash at a premium as determined in accordance with SEBI ICDR Regulations, 2009 and aggregating up to INR8.09 billion on preferential basis to Government of India (President of India) subject to approval of Reserve Bank of India, shareholders and other statutory authorities, if any. 

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