Bank of India to raise up to 45 billion rupees via QIP this week - IFR

Bank Of India

05/12/2023 07:45

MUMBAI, Dec 5 (Reuters) - State-run Bank of India
 BOI.NS  is planning to raise up to 45 billion rupees ($539.65
million) via a qualified institutional placement (QIP) of new
shares this week, fixed-income news service IFR reported on
Tuesday.
    The base size of the issue will be 22.5 billion rupees with
an option to retain over subscription of the same amount, IFR
reported, quoting people with knowledge of the transaction.
    Lead managers to the issue include BNP Paribas, BOI Merchant
Bankers, DAM Capital, IDBI Capital, IIFL Capital, Nuwama Wealth
and SBI Capital Markets, according to the report.
    In August 2021, Bank of India had raised 25.50 billion
rupees through a QIP.
    Bank of India did not immediately respond to a Reuters'
email seeking comment.
    Shares of Bank of India were trading 0.6% higher at 109.80
rupees apiece on Tuesday.

($1 = 83.3875 Indian rupees)

 (Reporting by Siddhi Nayak; Editing by Sohini Goswami)
 ((Siddhi.Nayak@thomsonreuters.com; +91 22 6921 7848; Reuters
Messaging: Twitter: https://twitter.com/siddhiVnayak))