Govt infuses Rs 1,010 cr in Bank of India

State-run Bank of India (BoI) today said the government has infused about Rs 1,010 crore into the bank's equity capital, taking its holding to 65.86%.

The bank has alloted over 2.13 crore shares at a price of Rs 474.07 a piece, aggregating to over Rs 1,009.99 crore, BoI said in a filing to the Bombay Stock Exchange (BSE).

The infusion, which is part of the Centre's recapitalisation plan to shore up capital base of PSU banks, will increase BoI's share capital to Rs 546.48 crore.

The government's holding in BoI has risen to 65.86% after the infusion, the filing added.

 

Shares of BoI closed at Rs 452.45 on the BSE, up 0.75% from its previous close.