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Three qualified institutional buyers (QIBs) — Life Insurance Corporation of India (LIC), ICICI Prudential Life Insurance Company and Bajaj Allianz Life Insurance Company — have been allotted more than 5 per cent equity shares in Bank of India’s (BoI) qualified institutions placement (QIP) issue, aggregating ₹2,550 crore.
The public sector bank, in a regulatory filing, said that its capital issue committee had on August 31, 2021, approved the allotment of about 40.54 crore equity shares to eligible QIBs at an issue price of ₹62.89 per equity share.
Bank of India net declines 15% YoY in Q1FY22 to ₹720 cr
The issue price is at a discount of 4.99 per cent (that is, ₹3.30 per equity share) to the floor price of ₹66.19 per equity share, per the filing
Canara Bank raises ₹2,500 crore through QIP issue
The QIP opened on August 25, and closed on August 30.
LIC accounted for 39.2155 per cent of the total QIP issue size, followed by ICICI Prudential Life Insurance Company and Bajaj Allianz Life Insurance Company (7.8431 per cent each).
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