Bank Of India Gains Over 1% After Approving Launch Of QIP To Raise Capital


Shares of Bank of India settled 1.23 per cent higher at Rs 65.70 apiece on the BSE.

Share price of Bank of India gained more than one per cent on Thursday, August 26, a day after the board approved the launch of qualified institutional placement (QIP) aimed at raising capital. On Thursday, Bank of India opened on the BSE at Rs 66.75, registering an intra day high of Rs 66.50 and an intra day low of Rs 65.05, throughout the trading session today. Bank of India’s board of directors approved the launch of QIP at a floor price of Rs 66.19 per equity share, aimed at raising Rs 3,000 crore equity capital.

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The board approved the floor price of Rs. 66.19 per equity share for the issue under the market regulator SEBI’s Issue of Capital and Disclosure Requirements (ICDR) regulations, according to a regulatory filing by the bank to the stock exchanges yesterday.

On the NSE, Bank of India opened at Rs 65.75, touching an intra day high of Rs 66.35 and an intra day low of Rs 65.10, in the session today. 

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On Thursday, shares of Bank of India settled 1.23 per cent higher at Rs 65.70 apiece on the BSE.


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