Bank of Baroda to issue shares worth Rs. 550 crores to Government of India

The Board of Directors of Bank of Baroda at its meeting held on December 03, 2013, have considered and approved issue of such number of Equity Shares of face value of Rs. 10/- each, for cash at a premium to be determined in accordance with SEBI (ICDR) Regulations aggregating upto Rs. 550 crores, on preferential basis to Government of lndia (GOl), subject to compliance of all applicable laws/ regulations & approvals.

The Extra-ordinary General Meeting of the shareholders of the Bank is also fixed to be held at Vadodara on January 15, 2014, for the purpose. The Board has also authorized CMD/ED to take all such actions as may be required for the purpose.

Shares of Bank of Baroda was last trading BSE at Rs.648.55, down by Rs.3 or 0.46%. The stock hit an intraday high of Rs.657.40 and intraday low of Rs.644.

The total traded quantity was 1.63 lakh shares as compared to 2 week average of 2.26 lakh shares.

Source : Equity Bulls

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