Bank of India gets SEBI approval for fund raising through QIP issue

On 21 November 2017

Bank of India announced that SEBI vide its letter dated 21 November 2017 has permitted the Bank to -

(i) raise capital by way of issue of equity shares through qualified institutional placement subject to the receipt of the approval from the Government of India ('QIP'); and

(ii) achieve minimum public shareholding as required under rule 19A of the Securities Contract Regulation (Rules), 1957 pursuant to the QIP.

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