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Bank of India mops up Rs 5,000 cr
Bank of India (BoI) on Friday raised Long Term Infrastructure Bonds of ₹5,000 crore at 7.54 per cent through the NSE Electronic Bidding Platform.
In a statement, BoI said the base issue size was ₹2,000 crore with greenshoe option of ₹3,000 crore.
The Bank received 127 bids amounting to ₹15,318 crore. Out of this, there were 57 successful bidders amounting to ₹5,000 crore, according to the statement.
“The funds raised through long term bonds will be used for funding long term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines. The funds raised by the Bank through this issue is not meant for financing any particular project,” BoI said.
Published on July 19, 2024
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