Bank of India shareholders approve Rs 8,000-cr fundraising via various modes

State-owned Bank of India on Saturday said it has received shareholders’ nod for raising up to Rs 8,000 crore through various modes, including issue of equity shares.

Shareholders approved the fund raising plan at the extra-ordinary general meeting (EGM) held on Saturday (September 19, 2020), Bank of India said in a regulatory filing.

The agenda of capital raise has been passed with requisite majority and it has received “approval to raise fresh capital up to an amount of Rs 8,000 crore by way of equity shares/tier-I/tier-II bonds by way of public issue or right issue or preferential issue or QIP or private placement or any other permitted mode at an appropriate time whether at a discount or premium to the market price,” it said in the filing.

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