InvestorQ : What are the terms of the proposed QIP by Bank of India?
Arti Chavan made post

What are the terms of the proposed QIP by Bank of India?

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Rutuja Nigam answered.
4 months ago
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As of now Bank of India has announced the details of the size and the pricing of the proposed placement of shares to qualified institutional participants. Bank of India has approved a qualified institutional placement or QIP for raising up to Rs.3,000 crore through the issue of equity shares to boost its capital adequacy buffers in order to support aggressive business and asset creation growth in the coming quarters.

In the previous week, Canara Bank raised Rs.2,500 crore via QIP, in which many marquee investors including ace investor Rakesh Jhunjhunwala had participated. The floor price for the Bank of India QIP placement has been fixed at Rs.66.19 per share. The bank is authorized to offer up to 5% discount on this price after the bids come in, entirely at its discretion. A total of 26 institutions evinced interest in the issue during road shows.

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