The lender received a total 104 bids aggregating up to Rs 18,483 crore, it said in an exchange filing. The state-owned lender allotted shares to qualified institutional buyers at Rs 100.20 a share, a discount of nearly 5% to the floor price of Rs 105.42.
BOI QIP kicked off on Tuesday, with the public sector lender approving the floor price at Rs 105.42 per equity share based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR Regulation.
Pinebridge Capital Investments, Morgan Stanley Invesment Management, Millennium LLC, Jupiter Asset Management, Moon Capital Management LP and US based trading firm Jane Street Capital are among the large foreign investors who have placed bids, people familiar with the details said.
In April, the bank had received board approval to raise Rs 4,500 crore either through a QIP or rights issue or via additional Tier-1 bonds. The lender also received approval to issue Basel-III compliant Tier-2 bonds upto an amount of Rs.2,000 crore.