The stock jumped 4.26 percent to Rs 243.10 on the BSE. On the NSE, it gained 4.57 percent to Rs 243.35.

The bank has decided to issue and allot up to 2.26 crore of Rs 10 each for cash at Rs 283.50 per share, including premium of Rs 273.50 per equity share, at a price as determined in accordance with SEBI regulation aggregating up to Rs 641.99 crore on preferential basis, BOI had said in a notice to the BSE on Monday.
The bank has called extraordinary general meeting of the shareholders on March 7, it had said.
LIC currently holds 12.53 percent stake in Bank of India. Following the fresh investment, stake of LIC would further go up.

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