Nuvama Investment Banking has successfully closed the QIP transaction of INR 45,000 mn for Bank of India

Qualified Institutional Placement

Service

December 2023

Date

Banking, Financial Service and Insurance

Sector

INR 45,000 MN

Deal Value

Nuvama Investment Banking has successfully closed the QIP transaction of INR 45,000 mn for Bank of India

Deal Details

  • QIP helped in achieving dual objectives of augmenting Tier I Capital which will aid growth plans as well as achieving Minimum Public Shareholding (MPS) norms
  • Offering received an overwhelming response from investors – a testimony to strong financial performance demonstrated by Bank of India
  • ~70% of the book was allocated to ‘Long Only’ Investors

Contribution

  • Spearheaded Demand Mobilisation in a 7 bank Syndicate
    • ~21% demand in terms of amount procured and highest share of 29 investors in terms of number of investors
    • Garnered disproportionately highest share of ~31% demand in terms of the amount procured under the FII category
  • Nuvama worked closely with the Bank through the entire QIP process to ensure smooth and successful closure
  • With this QIP, Nuvama has successfully closed the 2nd transaction for Bank of India