Bank of India announces closure of QIP

The Capital Issue Committee ("Committee") of Bank of India at its meeting held today i.e. 30/08/2021 has, approved the closure of the issue period for the Issue today i.e. 30/08/2021.

The committee also approved the issue price of Rs. 62.89 per Equity Share (including a premium of Rs. 52.89 per Equity Share) ("Issue Price"), which is at a discount of 4.99 % (i.e. Rs. 3.30 per Equity Share) to the floor price of Rs. 66.19 per Equity Share] determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the QIP Issue.

The committee also approved and adopted the Placement Document dated 30/08/2021.

The committee also approved and finalized the Confirmation of Allocation Note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the Issue.

Shares of Bank of India was last trading in BSE at Rs. 67.85 as compared to the previous close of Rs. 67.35. The total number of shares traded during the day was 95044 in over 932 trades.

The stock hit an intraday high of Rs. 68.6 and intraday low of 67.55. The net turnover during the day was Rs. 6464148.

Source : Equity Bulls

Keywords