Bank of India invests nearly Rs 109 cr in NARCL

The bank’s shareholding in NARCL will come to 9 per cent as on March 21, 2022


Bank of India | Bank of India stock | BSE NSE

banks, asset reconstruction company, NARCL

Bank of India (BoI) on Monday said it has invested nearly Rs 109 crore in National Asset Reconstruction Company Ltd (NARCL).

“We hereby inform that on March 21, 2022, bank has invested Rs 108.81 crore in National Asset Reconstruction Company Ltd (NARCL), under preferential share issue,” the bank said in a regulatory filing.

The bank’s shareholding in NARCL will come to 9 per cent as on March 21, 2022.

Incorporated in July 2021, NARCL is an asset reconstruction company backed by the government.

Shares of BoI closed at Rs 47.50 apiece on BSE, down by 1.14 per cent from previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, March 21 2022. 20:56 IST