Bank of India approves capital raising plan of upto Rs. 2500 crores

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The Board of Directors of Bank of India at its Meeting held today, 25th April, 2022, has considered and approved the capital raising plan upto Rs.2,500 crores by issue of fresh Equity Capital in the form of QIP / FPO / Preferential Issue.

The main purpose of capital raising plan is to increase the minimum public shareholding from the present 18.59% to 25% or above in order to comply with the minimum public shareholding requirements.

For this purpose, Bank has decided to obtain the permission of shareholders in the ensuing Annual General Meeting / Extra-ordinary General Meeting called for this purpose.