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Bank of India raises Rs 660 cr by selling shares to employees

Press Trust of India  |  New Delhi 

State-owned of India (BoI) Tuesday said it has raised 660.80 crore by issuing shares to employees under Employee Share Purchase Scheme (ESPS).

The issued 6,25,52,188 shares of 10 each to eligible employees, BoI said in a statement.

It offered a discount of 24.28 per cent on the applicable price to the employees and about 94.70 per cent of total employees participated in the scheme, it said.

These shares are issued with a lock-in period of one year, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 13:35 IST