Bank of India (BoI) on Wednesday said its Board of Directors will meet on April 25th to consider a proposal for raising capital up to ₹2,500 crore in FY23.
The capital raise would be by way of a further issue of equity shares through qualified institutional placement, follow-on public offer or preferential issue, per the public sector bank’s regulatory filing.
Capital raised in FY22
BoI had raised equity share capital of ₹2,550.01 crore through qualified institutional placement on August 31, 2021.
The bank had also issued and allotted about 40.54 crore equity shares of 10 each at a premium of ₹52.89 per share to investors.
Prior to the QIP, the Central government had infused ₹3,000 crore towards preferential allotment of equity shares on March 31, 2021, for which the bank had issued and allotted about 42.11 crore equity shares of ₹10 face value, fully paid up at an issue price of ₹71.23 per share on June 11, 2021.