BOI TO RAISE OVER RS 1,000 CR BY SHARE ISSUE

State owned lender Bank of India (BoI) today said its shareholders have approved capital infusion of over Rs 1,000 crore from the government by way of preferential issue of shares.

This decision was taken during the extraordinary general meeting of the bank held today, Bank of India said.

“The shareholders unanimously resolved and approved to issue not exceeding 2,13,04,870 equity shares of Rs 10 each at a premium of Rs 464.07 per share through the preferential issue route to the government of India,” it said.

SOURCE: http://www.thehindubusinessline.com/industry-and-economy/banking/article1547000.ece