Public sector lender Bank of India (BoI) has drawn up plans to set up subsidiaries overseas. “We plan to set up subsidiaries in New Zealand, Uganda, Botswana and Canada,” a senior official said.
The official said that to meet capital requirements, the bank has the option to go for a follow-on public offer (FPO) as government holding was at 64 per cent.
“FPO is also an option. But nothing has been decided as of yet,” he said. About raising plans for the fiscal, he said that the bank would raise `1,000 crore to `1,500 crore as Tier II debt, adding that it had a headroom of `7,000 crore.
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