Bank Of India has informed the Exchange regarding allotment of Long Term Infra Bonds of Rs. 10,000 Crore.
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Bank of India has allotted Long Term Infrastructure Bonds aggregating to Rs. 10,000 Crore. These are infrastructure-focused long-term bonds, a common instrument for public sector banks to raise funds for funding infrastructure lending. The allotment has been informed to the stock exchanges as part of compliance. The specific details such as coupon rate, tenure, or use of proceeds have not been disclosed in the headline.
The Rs. 10,000 Crore capital raise strengthens Bank of India's long-term funding base for infrastructure lending, which could support business growth. However, the dilution impact is limited as these are debt instruments, not equity, so existing shareholders are not affected in terms of shareholding.