Bank of India issues AT-1 bond worth Rs 602 crore

Bank of India said that it had issued 6,020 Basel III Compliant Additional Tier-I (AT-1) bonds with a face value of Rs 10 lakhs each, aggregating to Rs 602 crore.

The issue comprised of a base size of Rs 250 crores plus green-shoe option of Rs 352 crore.

The bidding took place on 26 March 2021 while the settlement and the allotment happened on 30 March 2021.

Bank of India is a public sector bank. The Government of India held 89.10% stake in Bank of India as on 31 December 2020.

The state-run lender reported 412.39% surge in net profit to Rs 541 crore in Q3 FY21 from Rs 106 crore in Q3 FY20. Total income fell 7.70% year-on-year (YoY) to Rs 12,310.92 crore during the quarter.

 

The scrip added 0.36% to currently trade at Rs 70 on the BSE. It traded in the range of 69.50 and 70.60 so far during the day.

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