Nuvama served as Book Running Lead Manager (BRLM) to Bank of India

Nuvama served as Book Running Lead Manager (BRLM) to Bank of India in ist Qualified Institutional Placement (QIP). Nuvama Wealth Management Limited has successfully closed the QIP transaction of c.INR 45,000mn (US$540mn) as the BRLM to Bank of India.

Bank of India (BOI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founding member of SWIFT The Qualified Institutional Placement QIP helped in achieving dual objectives of augmenting Tier 1 Capital which will aid growth as well as help in achieving. Minimum Public Shareholding (MPS) norms. With this QIP, Nuvama has successfully closed the 2nd transaction for Bank of India.