Bank of India Raises Rs 26.90 Bn Through 10-year Infra Bonds at 7.50%

17 Feb 2025 CW Team

Bank of India (BoI) has successfully raised Rs 26.90 billion through 10-year infrastructure bonds at an interest rate of 7.50 per cent via the NSE Electronic Bidding Platform. The issue's base size was Rs 15 billion, with an additional green shoe option of Rs 35 billion. This marks BoI鈥檚 third infrastructure bond issuance for the current financial year.

The bank received a total of 94 bids amounting to Rs 88.45 billion, which was 5.90 times the base issue size. After evaluating the bids, BoI accepted 26 bids and finalised the issuance at a coupon rate of 7.50 per cent, totalling Rs 26.90 billion.

The funds raised through these long-term bonds will be directed towards financing infrastructure projects and affordable housing, in line with Reserve Bank of India (RBI) guidelines. However, the funds are not intended for any specific project.

In the period leading up to December 31, 2024, BoI has raised a total of Rs 125 billion through various bond issuances, including Rs 25 billion in Basel III Tier-II bonds in September at 7.49 per cent, Rs 50 billion in infrastructure bonds in July at 7.54 per cent, and another Rs 50 billion in infrastructure bonds in November at 7.41 per cent.

News source: The Hindu Businessline

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..