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Bank of India today said it will raise up to Rs 3,000 crore by issuing tier-II bonds.
“The bank intends to issue unsecured, non-convertible, redeemable, Basel III-compliant tier-II bonds for an amount of Rs 1,500 crore with a green-shoe option of Rs 1,500 crore at an appropriate time,” the bank said in a filing to BSE.
Bank of India did not elaborate on the usage of proceeds.
Shares of the bank traded at Rs 117.45 apiece on BSE, up 0.86 per cent.
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