Mumbai, Sep 20
Bank of India has received its shareholders approval to raise up to Rs 8,000 crore through several modes including equity shares.
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The shareholders gave the approval in its Extraordinary General Meeting on Saturday, the bank said in a regulatory filing.It said that they gave the "approval to raise fresh capital up to an amount of Rs 8,000 crore by way of equity shares/tier-I/tier-II bonds by way of public issue or right issue or preferential issue or QIP or private placement or any other permitted mode at an appropriate time whether at a discount or premium to the market price".
Several public and private sector banks are raising capital to strengthen their buffer amid the pandemic.