Bank of India to raise Rs 204 cr by issuing shares to LIC

State owned Bank of India will raise Rs 204.42 crore by issuing shares to LIC on preferential basis.

The shareholders at the extra ordinary general meeting held today approved to allotment of 1.75 crore shares on preference basis to LIC at Rs 116.81 per share, the bank said in an exchange filing.

Shares of the bank closed 11 per cent up at Rs 138.60 on BSE.