Bank of India raises Rs.4,500-Cr via QIP

Bank of India (BoI) has raised INR 4,500 crore via qualified institutions placement (QIP) of about 44.91 crore equity shares at an issue price of INR 100.20 per equity share. The QIP was over-subscribed 4.11 times against the INR 4,500 crore issue (base issue size of INR 2,250 crore and green shoe of INR 2,250 crore). The bank received 104 bids aggregating to INR 18,483.30 crore. The issue price of INR 100.20 per equity share (including a premium of INR 90.20 to the face value of INR 10 per equity share) was at a discount of 4.95 % (that is INR 5.22 per equity share) to the floor price of INR 105.42 per equity share.