BoI raises ₹10,000 crore via infra bonds

Bank of India (BoI) said it had raised ₹10,000 crore through issue of Long Term Infrastructure bonds @ 7.23% per annum through NSE Electronic Bidding Provider Platform. The base issue size was ₹5,000 crore with Green Shoe option of ₹5,000 crore. The bank received total of 83 bids amounting to .₹15,305 crore. Out of this, the bank accepted 37 bids amounting to ₹10,000 crore. 

“The funds raised through the Long Term Bonds will be used for funding long term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines. The funds raised by the bank through this issue is not meant for financing any particular project,” the bank said in a statement.