Bank of India of India on Tuesday raised funds through issue of long-term infrastructure bonds of Rs. 10,000 crore at 7.23% per annum, it said in a release.
Base issue size
The base issue size was Rs 5,000 crore with green shoe option of Rs 5,000 crore. The bank received total of 83 bids amounting to Rs 15,305 crore out of which the bank accepted 37 bids totalling to Rs 10,000 crore.
RBI on the use of funds
“The funds raised through long term bonds will be used for funding long term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines.
The funds raised by the bank through this issue is not meant for financing any particular project,” the bank said.
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