BoB to raise Rs 9,000 crore

DSIJ Intelligence / 29 May 2017

BoB to raise Rs 9,000 crore

BoB is trading lower on Monday at Rs 176.95 per share at the time of filing this report. The stock has delivered 17 per cent returns on YTD basis.

 Bank of Baroda (BoB) is planning to raise Rs 9,000 crore via various instruments, including follow-on public offer (FPO). The said funds will be used to aid growth during the current fiscal as per the decision taken by the board on Saturday.

The board approved raising of additional capital funds of Rs 9,000 crore up to March 31, 2018, out of which Rs 6,000 crore is expected to be raised by the way of equity capital through various modes and Rs 3,000 crore will be raised by the way of additional tier I capital instrument.

BoB is trading lower on Monday at Rs 176.95 per share at the time of filing this report. The stock has delivered 17 per cent returns on YTD basis whereas the stock has delivered returns of 27.67 per cent returns over one year period.

Over one month the stock is down by 1.21 per cent.

Sensex is up by nearly 18 per cent over the year and is up by 16 per cent on YTD.

Bankex is up by 27 per cent on YTD basis and is up by nearly 34 per cent over one year period.

BoB has unperformed Bankex and is in line with the benchmark index Sensex.

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