Bank of Baroda is planning to raise Rs 11,900 crore during the current fiscal through share sale, including Employee Share Purchase Scheme to shore up capital for meeting business expansion requirement. The bank expects to garner Rs 1,500 crore from Bank of Baroda Employee Share Purchase Scheme (BoB-ESPS).
The remaining capital would be raised by way of various modes such as Qualified Institutional Placement (QIP) or Follow on Public Offer (FPO) or rights issues or any other mode or combinations of these with the existing paid-up equity share capital remaining within the total authorized capital of the bank of Rs 3,000 crore. The decisions in this regard will be taken by shareholders of the bank on June 21 at the Annual General Meeting (AGM).
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
