Bank of India plans to raise up to Rs 2,500 cr equity capital in FY23

Lender could look at options such as QIP, FPO and preferential issue

Public sector lender Bank of India plans to raise fresh equity capital of up to Rs 2,500 crore in the current financial year (FY23) for business growth.

Its board is slated to meet on April 25, 2022 to consider a capital raising proposal by way of a further issue of equity shares, BOI informed BSE.

It could look at options including qualified institutional placement (QIP), follow-on public offer and preferential issue of shares.

The bank's capital adequacy ratio stood at 16.66 per cent in December 2021, up from 12.51 per cent in December 2020.

For nine months (April-December 2021), net