Bank of Baroda board committee approves raising funds

The capital raising committee of the state-run bank approved raising upto Rs2,755cr by issuing Basel-III compliant additional Tier-I bonds in single or multiple tranches.

Oct 26, 2020 04:10 IST India Infoline News Service

Bank of Baroda
Shares of Bank of Baroda ended at Rs42.70 down by Rs0.5 or 1.16% from its previous closing of Rs43.20 on the BSE.

The capital raising committee of the state-run bank approved raising up to Rs2,755cr by issuing Basel-III compliant additional Tier-I bonds in single or multiple tranches.

“We refer to our letter no. BCC:ISD:112:16:296 dated 19.10.2020 and advise that the designated committee of the Board i.e. Capital Raising Committee of our Bank has today approved the issuance of Basel III Compliant Additional Tier I Bonds for aggregate total issue size not exceeding Rs.2755 crore in single or multiple tranches,” the bank said on Friday.

The scrip opened at Rs43.25 and has touched a high and low of Rs43.75 and Rs42.55 respectively.

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