Bank of Baroda has raised Rs 4,500 crore equity capital through qualified institutional placement (QIP). The capital raising committee of the board on March 3, 2021 approved the issue and allotment of 55,07,95,593 equity shares to eligible qualified institutional buyers at issue price of Rs 81.70 per share against the floor price of Rs 85.98 apiece. Total seven buyers were allotted more than five per cent of the equity shares offered in the issue.
Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the bank stands increased to Rs 1,034.27 crore, comprising 517,13,62,179 equity shares.
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.
