Bank of Baroda to allot Equity Shares to GOI on preferential basis

Government of India (GOI) vide their letter dated March 15, 2011 has advised to infuse Rs. 2,461 Crores (i.e. 2,72,79,579 Equity Shares @ Rs. 902.14) in Bank of Baroda by way of preferential allotment of Equity shares in favor of Government of India.

Accordingly, Bank of Baroda would be allotting the said number of Equity shares to GOI on preferential basis after the approval of shareholders at the EGM to be held on March 29, 2011 at Vadodara and other regulatory requirements.

The stock was trading at Rs.903.30, down by Rs.6.05 or 0.67%. The stock hit an intraday high of Rs.914 and low of Rs.900.

The total traded quantity was 0.26 lakhs compared to 2 week average of 0.64 lakhs.

Source : Equity Bulls

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