Bank of India shareholders okay Rs 2,500 cr capital raise plan

State-owned Bank of India on Saturday said its shareholders have approved a proposal to raise up to Rs 2,500 crore fresh equity capital by various modes.

The decision was taken at the bank’s Annual General Meeting (AGM) held on July 15, Bank of India said in a release.

The bank said the shareholders approved the agenda to raise fresh equity capital up to an amount of Rs 2,500 crore including share premium, by way of public issue or right issue or preferential issue or QIP or private placement.

The meeting also took the agendas to approve and adopt the audited accounts for the period ended 31st March 2022 and to declare dividend for the Financial Year 2021-22 at Rs 2 (20 per cent) per share.

All the three agenda items were passed with requisite majority, the bank said.

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