Bank of Baroda approves capital raising of up to Rs. 2000 crores

The Capital Raising Committee of the Board of Bank of Baroda at their meeting held on October 21, 2016 has authorized the Bank to raise funds through issuance of Basel III Compliant AT- I (Additional Tier - I Capital) Bonds, i.e., Perpetual Debt Instrument (s), as per the regulatory definitions of Reserve Bank of India, for Rs. 1000/- crore with Green shoe Option of Rs. 1,000/- crore (Total Size not to exceed Rs. 2,000/- Crore) on Private Placement Basis."

The timing, coupon rate, tenure etc., will be decided by the management at the appropriate time and intimated to the Stock Exchanges.

The meeting commenced at 12.30 p.m. and concluded at 1.00 p.m.

Shares of BANK OF BARODA was last trading in BSE at Rs.156.25 as compared to the previous close of Rs. 157.65. The total number of shares traded during the day was 521831 in over 4022 trades.

The stock hit an intraday high of Rs. 157.7 and intraday low of 154.6. The net turnover during the day was Rs. 81339764.

Source : Equity Bulls

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