Bank of Baroda fixes issue price as Rs. 192.74 for preferential allotment to GOI

Bank of Baroda had earlier announced about the decision of GOI to infuse capital funds to the tune of Rs. 1786 Crore in Bank of Baroda by way of preferential allotment of equity in favour of the Government and about the convening Extra-ordinary General Meeting (EGM) on September 28, 2015 at Vadodara (Gujarat).

The Relevant Date for determination of issue price pursuant to SEBI (ICDR) Regulations, 2009, as amended, is determined as August 28, 2015.

The issue price has been determined at not being less than Rs.192.74 per share of of the face value of Rs.2/- each (Rupees One Hundred Ninety Two and Paise Seventy Four Only) calculated as per SEBI ICDR Regulations, 2009 as amended, which has been duly certified by our Bank's Statutory Central Auditors i.e. M/S Khandelwal Jain & Co. Chartered Accountants, Mumbai.

Accordingly, the number of equity shares to be created, issued and allotted to Government of India on preferential basis shall be 9,26,63.692.

Shares of BANK OF BARODA was last trading in BSE at Rs.184.65 as compared to the previous close of Rs. 185.2. The total number of shares traded during the day was 665299 in over 7418 trades.

The stock hit an intraday high of Rs. 189.9 and intraday low of 182.95. The net turnover during the day was Rs. 124100993.

Source : Equity Bulls

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