New Delhi: State owned Bank of India has informed about Fund raising through issue of Long Term Bonds of Rs.10.000 Crore through exchange filing.
The bank has declared that it has come out with an issue of Long Term Bonds (Infrastructure) — Series IV with Base issue size of Rs.5,000 crore and Green shoe option of Rs.5,000 crore on a Private Placement Basis.
The bank received total Bids amounting to Rs.15,305 crore in response from investors and the issue was oversubscribed by 3.06 times against the base issue size of Rs.5,000 crore. Further, the Bank has decided to accept bids of Rs.10,000 crore at the cut-off coupon rate of 7.23% p.a.
The bonds are Unsecured, Subordinated, Redeemable, Non- Convertible, Taxable, listed, fully paid-up Long Term Bonds (Infrastructure) Series IV in the nature of debentures of face value of Rs.1 lakh each (the "Bonds").
The Base issue size of Rs. 5,000 crore plus Green Shoe Option of Rs.5,000 crore, aggregating to Rs.10,000 crore.
The Deemed Date of Allotment is 26th December, 2025. The No of bids received is 83. The platform is NSE Electronic Bidding Platform and the number of bids accepted is 37.