Bank of India gains on raising Rs 2,500 crore by issue of Tier I Capital Bonds

   

      Bank of India has raised an amount of Rs 2,500 crore by issue of Basel III Complaint, Additional Tier-1 Bonds by way of private placement of Rs 1,250 crore with a Green Shoe option of Rs 1,250 crore. The bonds will be listed on wholesale debt market (WDM) segment of NSE.
     The bank’s net profit for first quarter ended June 30, 2014 declined by 16.43% at Rs 805.69 crore as compared to Rs 964.18 crore for the quarter ended June 30, 2013. However, the bank’s total income has increased by 16.52% to Rs 11328.73 crore for the quarter under review from Rs 9722.01 crore for the corresponding quarter of the previous year.
     The bank’s gross NPA for the April-June quarter of the current fiscal stood at 3.28%, as compared to 3.04% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 2.14% in Q1FY15.
     The promoters holding in the company stood at 66.70% while Institutions and Non-Institutions held 25.38% and 7.93% respectively.
     The BSE group 'A' stock  of face value Rs. 10 has touched a 52 week high of Rs. 356.75 on 26-May-2014 and a 52 week low of Rs. 126.95 on 28-Aug-2013.
     The scrip opened at Rs. 270.25 and has touched a high and low of Rs. 273.30 and Rs. 270.25 respectively. So far 22,000 shares were traded on the counter.
     Bank of India is currently trading at Rs. 272.75, up by 5.40 points or 2.02% from its previous closing of Rs. 267.35 on the BSE.