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Bank of India (BoI) on Friday raised Long Term Infrastructure Bonds of ₹5,000 crore at 7.54 per cent through the NSE Electronic Bidding Platform.
In a statement, BoI said the base issue size was ₹2,000 crore with greenshoe option of ₹3,000 crore.
The Bank received 127 bids amounting to ₹15,318 crore. Out of this, there were 57 successful bidders amounting to ₹5,000 crore, according to the statement.
“The funds raised through long term bonds will be used for funding long term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines. The funds raised by the Bank through this issue is not meant for financing any particular project,” BoI said.
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