Announced Tue, 12 May · 19:13 IST
Bank Of India has informed the Exchange about update on Capital Infusion in our Associate ASREC (India ) Ltd
Ownership Changes View source PDF
BANKINDIA · price
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Price reaction · full curve 14 horizons · vs prior close
+2.7%1-day move
₹140.55
prior close
₹140.20
base price
After-mkt
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AI summary
Bank of India has infused Rs. 22.64 crores into its associate company ASREC (India) Ltd. Following this capital infusion, Bank of India's equity stake in ASREC has increased from 26.02% to 27.30%. This represents a 1.28 percentage point increase in ownership. The filing was made pursuant to SEBI (LODR) Regulations, 2015.
Likely market impact
This is a positive development showing Bank of India's commitment to supporting its associate entity. The increased stake strengthens the parent's control over ASREC, though the associate remains minority-owned.