Bank of India has successfully raised Rs 5,000 crore through the issuance of long-term infrastructure bonds via private placement. The bonds received an overwhelming response, with total bids amounting to Rs 13,700 crore, oversubscribing the base issue size of Rs 2,000 crore by 6.85 times.
Key Details of the Issue:
- Type of Bonds: Unsecured, Subordinated, Redeemable, Non-Convertible, Taxable, and Fully Paid-Up Infrastructure Bonds.
- Face Value: Rs 1 lakh per bond.
- Total Issue Size: Rs 2,000 crore base issue with a green shoe option of Rs 3,000 crore, aggregating to Rs 5,000 crore.
- Coupon Rate: 7.41% per annum.
- Number of Bonds Issued: 5,00,000.
- Opening and Closing Date: 27th November 2024.
- Deemed Date of Allotment: 29th November 2024.
- Number of Bids Received: 97.
- Accepted Bids: 43.
The bonds were issued via the NSE Electronic Bidding Platform, ensuring seamless execution. This successful fundraising demonstrates the trust and confidence of investors in the bank’s robust financial position and its ability to drive infrastructure growth.
