Bank Of India Announces Allotment Of Equity Shares To Qualified Institutional Buyers

Bank Of India Announces Allotment Of Equity Shares To Qualified Institutional Buyers

The Issue opened on 5th December 2023 and closed on 8th December 2023 and the same was intimated to you through our letters dated 5th December 2023 and 8th December 2023 respectively.

FPJ Web DeskUpdated: Monday, December 11, 2023, 12:38 PM IST
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Bank Of India Issues Basel III Bank Of India Announces Allotment Of Equity Shares To Qualified Institutional Buyers | File

Bank of India on on Monday announced that the Capital Issue Committee at its meeting held today, has approved the issue and allotment of 44,91,01,796 Equity Shares of face value Rs 10 each to eligible Qualified Institutional Buyers at the issue price of Rs 100.20 per Equity Share (including a premium of Rs. 90.20 per Equity Share) against the floor price of Rs 105.42 per Equity Share, aggregating to Rs 4,499,99,99,959.20, pursuant to the Issue in accordance with provisions of SEBI ICDR Regulations, the company announced through an exchange filing.

The Issue opened on 5th December 2023 and closed on 8th December 2023 and the same was intimated to you through our letters dated 5th December 2023 and 8th December 2023 respectively.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Bank has increased from Rs. 4,103.57 crores, comprising of 410,35,66,070 Equity Shares to Rs. 4,552.67 crores, comprising of 455,26,67,866 Equity Shares

Allottees granted more than 5% of the Equity Shares provided in the QIP Issue

The Bank of India disclosed the list of allottees who have been granted more than 5 percent of the Equity Shares provided in the QIP Issue. The allottees and their respective allocations concerning the total issue size as a percentage are as follows:

1) SBI Mutual Fund - Mutual Fund - MF: 5,27,25,985 shares, constituting 11.74 percent of the total issue size.

2) Societe Generale - ODI Category I - Foreign Portfolio Investor (Corporate): 3,87,00,690 shares, representing 8.62 percent of the total issue size.

3) Morgan Stanley Asia (Singapore) Pte Category I - Foreign Portfolio Investor (Corporate): 3,28,53,460 shares, accounting for 7.32 percent of the total issue size.

4) HDFC Life Insurance Company Limited - Insurance Companies Domestic Companies: 3,15,86,995 shares, making up 7.03 percent of the total issue size.

5) ICICI Prudential Life Insurance Company Limited - Insurance Companies Domestic Companies: 3,15,86,995 shares, equivalent to 7.03 percent of the total issue size.

6) ICICI Prudential Mutual Fund - Mutual Fund - MF: 2,67,27,459 shares, comprising 5.95 percent of the total issue size.

Bank of India shares

The shares of Bank of India on Monday at 12:25 pm IST were at Rs 118.95, up by 4.07 percent.

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