Share Market Highlights 06 December 2023: Indices continue to hit fresh highs; Nifty closes above 20,900
Issuer: Bank of India Limited| QIP Launch
ISIN: INE084A01016
Type of Issue: QIP in accordance with Chapter VI of the SEBI ICDR Regulations and The Banking Companies Act, The Banking Regulation Act, 1949, As Amended (The “Banking Regulation Act”), Bank Of India (Shares And Meetings) Regulations, 2007, As Amended (The “Bank Of India Regulations”) And The Nationalised Banks (Management And Miscellaneous Provisions) Scheme, 1970 (The “Nationalised Banks Scheme”)
Securities Offered: Equity Shares of face value of INR 10 eachs
Exchange Rate Used: US$ 1 = INR 83.3931 (Source: RBI – exchange rate as of December 5, 2023)
Indicative Issue Size: Up to INR 45,000 mm / c. US$ 540.0 Mm, comprising of a Base Deal of up to INR 22,500 Mn / c. US$ 270.0 Mn and a Green shoe option to upsize of up to an additional INR 22,500 Mn / c. US$ 270.0 Mn
Last Closing Price: INR 110.20 per Equity Share on NSE as on December 5, 2023
SEBI Floor Price: INR 105.42 per Equity Share
Indicative Issue Price: INR 100.20 per Equity Share
Indicative Discount: 9.07% discount to the close price on NSE on December 5, 2023
Dilution: At Base Deal: c. 5.47% of pre-issue outstanding equity share capital; at Upsized Deal: c. 10.94% of pre-issue outstanding equity share capital
Use of Proceeds: Bank intends to utilize the Net Proceeds towards augmenting our Bank’s Tier I Capital to meet additional requirement on account of capital conservation buffer and to support growth plans and to enhance the business of our Bank
Share Issue Type (Primary/ Secondary): 100% primary shares
Bank Lock-up Period: 90 days – The Equity Shares held by the Promoter shall not be subject to any lock-up under the Placement Agreement.
Book Running Lead Managers: SBI Capital Markets Limited , IDBI Capital Markets & Securities Limited, BNP Paribas, DAM Capital Advisors Limited, IIFL Securities Limited, Nuvama Wealth Management Limited & BOI Merchant Bankers Limited
Transaction Timelines:
Launch of Transaction/Receipt of EOI: December 5th, 2023 (after market hours)
Close of Receipt of EOI: By 8:45 am IST on December 6th, 2023 (option to close earlier)
Dispatch of Preliminary Placement Document cum Application Form to investors: On Wednesday, December 6th, 2023
Receipt of Application Forms, along with pay-in of application amounts: On Friday December 8th, 2023 (By 2 PM IST)
Pricing/ Sending numbered CANs to successful bidders (pending allotment): On Friday December 8th, 2023
Listing Approval from Stock Exchange: On or around Monday, December 11th, 2023
Credit of Shares (Stock in Account); “Settlement Date”: On or around Tuesday, December 12th, 2023
Trading Approval from Stock Exchanges: On or around Tuesday, December 12th, 2023
Listing & Trading of Shares Commences: On or around Wednesday, December 13th, 2023