Bank of India Raises Rs.2,690 Crore through 10-Year Infrastructure Bonds at 7.50% Interest
Varahi media.com online news,Mumbai, February 18th, 2025: Bank of India, a prominent Public Sector Bank, has successfully raised ₹2,690 crore by issuing 10-year Infrastructure Bonds at an
Varahi media.com online news,Mumbai, February 18th, 2025: Bank of India, a prominent Public Sector Bank, has successfully raised ₹2,690 crore by issuing 10-year Infrastructure Bonds at an interest rate of 7.50% per annum. The bonds were sold through the NSE Electronic Bidding Platform.
ఇది కూడా చదవండి..మాజిల్లానిక్ క్లౌడ్ టెక్నాలజీ విస్తరణ.. తెలంగాణలో భారీ పెట్టుబడులు
The base issue size was ₹1,500 crore, with a Green Shoe option of ₹3,500 crore. A total of 94 bids were received, amounting to ₹8,845 crore, 5.90 times the base issue size.
The bank accepted bids at the cut-off coupon rate of 7.50%, totaling ₹2,690 crore. Out of the 94 bids, 26 were successful.
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The funds raised through these long-term bonds will be used to finance infrastructure projects and affordable housing, as per the Reserve Bank of India’s (RBI) guidelines. The funds are not earmarked for any specific project.
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