Bank of Baroda Board Meeting on Dec 03, 2013 to approve issue of equity shares to Government of India

Consequent upon the receipt of communication from Government of India (GOI) the Board of Directors of Bank of Baroda, at its meeting scheduled to be held on December 03, 2013, is considering to approve issue of equity shares by way of preferential allotment to Government of India, the promoter of the Bank, up to Rs. 550/- crore (Rupees Five Hundred and Fifty Crore Only) subject to compliance of all applicable Laws/Regulations/ Approvals i.e. including but not limited to SEBI (Issue of Disclosure Requirements) Regulations 2009 as amended, RBI/GOI approvals, Listing/Trading approvals from SEs and other applicable approvals.

Shares of Bank of Baroda was last trading in BSE at Rs.614.85, up by Rs.2 or 0.33%. The stock hit an intraday high of Rs.622.80 and low of Rs.605.50.

The total traded quantity was 1.68 lakhs as compared to 2 week average of 2.34 lakhs.

Source : Equity Bulls

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