Bank Of India has informed the Exchange regarding Outcome of Board Meeting held on April 30, 2026.
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Bank of India's Board of Directors approved capital raising of up to Rs. 7,500 Crore through issuance of Basel-III compliant bonds during FY 2026-27. The issuance comprises Tier-I Bonds worth Rs. 2,500 Crore and Tier-II Bonds worth Rs. 5,000 Crore. This capital raising exercise is aimed at strengthening the bank's capital base to meet regulatory requirements under Basel-III norms. The board meeting was held on April 30, 2026, and concluded at 5:00 PM.
This bond issuance will help Bank of India bolster its Tier-I and Tier-II capital buffers, improving its capital adequacy ratio. While this strengthens the bank's financial position, it may lead to dilution concerns if converted or has existing equity impact. The large fundraising amount could have minor negative impact on near-term profitability due to interest costs.