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Bank of India raises ₹2,690 crore through Infra Bonds

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Bank of India said it has raised 10 years Infrastructure Bonds of ₹2,690 crore @ 7.50% p.a, through NSE Electronic Bidding Platform. 

The Base Issue size was ₹1,500 crore with Green Shoe option of ₹3,500 crore. 

“Bank received total of 94 bids amounting to ₹8,845 crore, 5.90 times of the Base issue size. Bank accepted bids at cut-off coupon of 7.50% of ₹2,690 crore,” Bank of India said in a statement. 

“The funds raised through Long Term Bonds will be used for funding long-term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines,” it said.

“The funds raised by the Bank through this issue is not meant for financing any particular project,” it added. 

Published – February 15, 2025 04:46 pm IST

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Hi, I’m Subham Singh, a journalist with a passion for storytelling and a deep understanding of business. At News Networks India, I specialize in bridging the gap between news and insights that matter to entrepreneurs, companies, and industry leaders. With years of experience engaging directly with business owners and corporate leaders, I bring a unique perspective to my reporting. My work often focuses on uncovering trends, analyzing strategies, and sharing stories that inspire and inform. Whether it’s breaking news, in-depth business insights, or exclusive interviews, my goal is to provide value to readers who want to stay ahead in today’s fast-paced world. Beyond journalism, I enjoy building meaningful connections with industry professionals, exploring innovative ideas, and keeping an eye on emerging market trends. I firmly believe that understanding business is not just for professionals but for everyone striving to grow and succeed.

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