• Bank of India raises Rs 10,000 crore via long-term infrastructure bonds
• Bonds carry an annual interest rate of 7.23 percent
• Funds aimed at supporting infrastructure projects and affordable housing

Bank of India (BoI) has successfully raised Rs 10,000 crore through the issuance of long-term infrastructure bonds at an annual interest rate of 7.23 percent. The bonds were offered via the NSE Electronic Bidding Platform, with a base issue size of Rs 5,000 crore and a green shoe option of an additional Rs 5,000 crore.

The issue received strong investor interest, with a total of 83 bids amounting to Rs 15,305 crore. Out of these, the bank accepted 37 bids totaling Rs 10,000 crore. The oversubscription highlights strong confidence in the bank’s bond offering and the appeal of infrastructure-focused investment options.

BoI stated that the funds raised through these bonds will be used to finance long-term projects in infrastructure sub-sectors and affordable housing, in line with RBI guidelines. The bank clarified that the raised capital is intended for general sectoral development and not earmarked for any specific project.

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This bond issuance marks a significant step for BoI in supporting India’s growing infrastructure needs while providing investors with a stable, long-term investment option. It also reinforces the role of banks in channeling private capital into essential development sectors, including housing and urban infrastructure.