Bank of Baroda closes QIP, fixes price at Rs. 81.70

The Capital Raising Committee of Board of Directors (the "Committee") of Bank of Baroda (the "Bank") at its meeting held today i.e. March 02, 2021 have approved the closure of the issue period for the Issue today i.e. March 02, 2021 pursuant to the receipt of application forms and the funds in the escrow account from eligible qualified institutional buyers in accordance with the terms of the Issue, which opened on February 25, 2021.

The committee determined and approved the issue price of Rs. 81.70 per Equity Share (including a premium of Rs. 79.70 per Equity Share), [which is at a discount of 5% (i.e. Rs. 4.28 per Equity Share) to the floor price of Rs. 85.98 per Equity Share] determined as per the formula prescribed under Regulation 176(1) of the SEBIICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

Shares of BANK OF BARODA was last trading in BSE at Rs.83.2 as compared to the previous close of Rs. 83.3. The total number of shares traded during the day was 2435291 in over 5980 trades.

The stock hit an intraday high of Rs. 85.25 and intraday low of 83. The net turnover during the day was Rs. 204752909.

Source : Equity Bulls

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