Bank of India said it has raised 10 years Infrastructure Bonds of ₹2,690 crore @ 7.50% p.a, through NSE Electronic Bidding Platform.
The Base Issue size was ₹1,500 crore with Green Shoe option of ₹3,500 crore.
“Bank received total of 94 bids amounting to ₹8,845 crore, 5.90 times of the Base issue size. Bank accepted bids at cut-off coupon of 7.50% of ₹2,690 crore,” Bank of India said in a 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,” it said.
“The funds raised by the Bank through this issue is not meant for financing any particular project,” it added.
Published – February 15, 2025 04:46 pm IST