Bank of India raises Rs 660 cr by selling shares to employees
The bank issued 6,25,52,188 shares of Rs 10 each to eligible employees, BoI said in a statement.
![Bank of India (BoI), which had been reporting losses for last two consecutive fiscals, expects to return to black in the second quarter of current fiscal. Bank of India (BoI), which had been reporting losses for last two consecutive fiscals, expects to return to black in the second quarter of current fiscal.](https://images.deccanchronicle.com/dc-Cover-iss492mpkj8bbr8fg1dsq0e9a1-20170715162637.Medi.jpeg)
Bank has called a pre-bid meeting on August 14 and the final bids are to be sent in by 3 pm on August 22.
New Delhi: State-owned Bank of India (BoI) Tuesday said it has raised Rs 660.80 crore by issuing shares to employees under Employee Share Purchase Scheme (ESPS).
The bank issued 6,25,52,188 shares of Rs 10 each to eligible employees, BoI said in a statement. It offered a discount of 24.28 per cent on the applicable price to the employees and about 94.70 per cent of total employees participated in the scheme, it said. These shares are issued with a lock-in period of one year, it added.
( Source : PTI )
Next Story