Stock to Watch: BOI approves 125-cr new Equity shares

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Subject to all shareholder’s consent and regulatory approvals, the Board of the Bank of India (BOI) has approved the issuance of upto 125-Cr new equity shares through Qualified Institutions Placement (QIP). This was announced post market hours Friday, 6 Dec 2019.

This issuance includes Tier-I &II bonds, and preference shares, on a private placement or public issue basis, in one or more tranches upto an extent of Rs10,000-Cr at an appropriate time, the state-owned bank said.

On Friday, prior to this announcement, shares of Bank of India slipped 4.16 percent to Rs.68-per share on the NSE. On the BSE, the share price closed at Rs68.33-per unit, down by 3.66% Avail Equity tips from our Experts.

The stock hit its one-year-high of Rs110.15 on 7th January 2019. and also hit its one-year-low of Rs57.45 on 9th October 2019. on the NSE.

Investors’ reaction on Bank of India stock will be reflected at the beginning of next trading on Monday, 9-December, as the new development on the aforesaid issuance was reported after the market hours in the weekend. For Best Bank Nifty tips visit our Website.

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