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Bank of India announces closure of QIP issue; raises Rs.2,550-Cr

Economic Times  

Bank of India has announced the closure of its QIP issue. It has raised INR 2,550 crore by issuing more than 40.5 crore shares. The allotment of 40,54,71,866 equity shares to eligible qualified institutional buyers (QIBs) was made at an issue price of INR 62.89 per share, aggregating to INR 2,550.01 crore. LIC, ICICI Prudential Life Insurance Company and Bajaj Allianz Life Insurance Company subscribed to more than 5% of the equity offered in the issue.