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Bank of India (BoI) on Wednesday announced that it is planning to raise capital aggregating up to ₹6,500 crore in FY24.
According to a regulatory filing by the public sector bank, its Board Of Directors will consider the proposal at a meeting on April 18, 2023.
Also read: Public sector banks wrote off ₹91,000 cr in 9 months of FY23
As part of its resource raising plan for FY24, the bank will issue fresh equity capital in the form of follow-on public fffer/ qualified institutional placement/rights issue/preferential issue and/or Basel III compliant additional tier-1 (AT-1) bonds (domestic and foreign currency) to raise up to ₹4,500 crore.
Also read: What the Yes Bank AT1 bonds fiasco is all about
The bank is also planning to Basel III compliant Tier-2 bonds to raise up to up to ₹2,000 crore.
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