Bank of India receives Sebi’s nod to raise up to INR 3000 crore


Bank of India has announced that Securities and Exchange Board of India permitted the Bank to raise capital up to INR. 3000 crore by way of issue of equity shares through qualified institutional placement subject to the receipt of the approval from the Government of India (‘QIP‘); and achieve minimum public shareholding as required under rule 19A of the Securities Contract Regulation (Rules), 1957 pursuant to the QIP.