Bank of India gets shareholders approval for raising Rs 8,000 crore

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September 19, 2020 10:14 PM

Shareholders approved the fundraising plan at the extra-ordinary general meeting held on Saturday, Bank of India said in a regulatory filing.

Bank of India fundraiseIt has received "approval to raise fresh capital by way of equity shares/tier-I/tier-II bonds by way of public issue or right issue or preferential issue or QIP or private placement or any other permitted mode at an appropriate time whether at a discount or premium to the market price," Bank of India said in the filing.

State-owned Bank of India on Saturday said it has received shareholders’ nod for raising up to Rs 8,000 crore through various modes, including issue of equity shares.

Shareholders approved the fundraising plan at the extra-ordinary general meeting (EGM) held on Saturday (September 19, 2020), Bank of India said in a regulatory filing.

The agenda of capital raise has been passed with requisite majority and it has received “approval to raise fresh capital up to an amount of Rs 8,000 crore by way of equity shares/tier-I/tier-II bonds by way of public issue or right issue or preferential issue or QIP or private placement or any other permitted mode at an appropriate time whether at a discount or premium to the market price,” it said in the filing.

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