Bank of India said that a meeting of board of directors of the bank is scheduled on 30 April 2021 to consider and approve fund raising plan.
The board of directors of the state-run bank would consider the proposal of raising capital including by way of a further issue of equity shares and BASEL III Compliant Additional Tier-I, Tier-II bonds etc.
The announcement was made after market hours yesterday, 27 April 2021. Shares of Bank of India rose 1.3% to settle at Rs 66.05 yesterday.
The stock hit a 52-week high of Rs 101.45 on 19 February 2021. The stock hit a 52-week low of Rs 31 on 20 May 2020.
Bank of India is a public sector bank. The Government of India held 89.10% stake in Bank of India as on 31 March 2021.
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