JAKARTA – PT Bank of India Indonesia Tbk (BSWD) aims to raise IDR 2.38 trillion of fresh funds in its fifth rights issue that will take place from March 14 to 20, 2023.

Based on the prospectus quoted Friday (13/1), BSWD will issue 2.38 billion shares of IDR 200 each for IDR 100 per share. Said number of shares is equal to 50% of BSWD's entire issued and paid-up capital after rights issue.

Bank of India (BOI), the owner of 86.04% of shares or approximately 2.05 billion units of BSWD's shares, agrees to exercise some of its rights, preparing a budget of IDR 1.3 trillion. The remaining 755.48 million shares will not be claimed by BOI, neither will be transferred to other parties.

BSWD's authorised capital is recorded at IDR 2.2 trillion, while its issued and paid-up capital reaches IDR 477.77 billion. The current shareholder structure consists of BOI of 86.04%, PT Panca Mantra Jaya (PMJ) of 10.46%, Prakash Rupchand Chugani of 0.99%, and public investors of 2.51%.

After this rights issue, the issued and paid-up capital of BSWD will rise to IDR 804.44 billion. BOI will have 83.42% of them, followed by PMJ of 12.43%, Prakash Rupchand Chugani of 1.18%, and the public of 2.97%. (LK/ZH)