Bank of India to raise ₹5,000 crore via bonds in FY26; secures $400 million in dollar loan
Mumbai: Bank of India’s board has approved raising up to ₹5,000 crore in capital during FY2025-26 by issuing Basel-III compliant bonds, comprising ₹2,500 crore each in Tier-I and Tier-II instruments, the lender said in a stock exchange filing on Wednesday.
In a significant move earlier this year, the bank also raised $400 million through a dollar syndicated loan—its first such deal since 2012—marking a return to the international borrowing market, Bloomberg reported, citing sources.
The uniqueness of the transaction attracted robust interest, allowing the bank to increase the amount by $100 million via a greenshoe option.
A total of 22 lenders participated in the facility, including arrangers CTBC Bank Co. and Standard Chartered Plc, NDTV profit reported citing sources.
On Wednesday, shares of Bank of India closed 2.27% lower at ₹115.15 on the NSE, underperforming the benchmark Nifty 50, which slipped 0.01%, , according to the ET report.
The stock has declined 25.75% over the past year but has gained 13% year-to-date.
Out of five analysts covering the stock, three have a ‘buy’ rating, one recommends ‘hold’ and another advises ‘sell’, according to Bloomberg data.
The average 12-month target price indicates a potential downside of 2.2%.
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