Bank of Baroda fund raise: The board of directors of Bank of Baroda has considered and approved fund raise up to $4 billion through issuance of bonds and certificate deposits. In its latest exchange communication, Bank of Baroda informed Indian bourses that the bank board has approved $1 billion foreign currency fund raise through issuance of bonds while an additional up to $3 billion fund raise via issuance of certificates of deposits.
Bank of Baroda informed Indian stock market bourses about the fund raise programme citing, “Board of Directors of Bank have inter alia considered and approved raising of foreign currency fund through issuance of Bonds up to USD 1.00 Billion under Bank’s MTN programme and through issuance of Certificate of Deposits up to USD 3.00 Billion under CD programme in single or multiple tranches at appropriate time.”
Bank of Baroda went on to inform that board of directors of the state-owned bank also considered and approved raising of funds through bilateral / other borrowings up to $3 billion.
In its previous exchange communication, Bank of Baroda had informed that its board of directors are going to consider fund raise through issuance of bonds, issuance of certificate of bonds and other borrowings.
“We advise that Meeting of Board of Directors of our Bank is scheduled to be held on 21.04.2023 inter alia to consider and approve the raising of foreign currency fund through issuance of Bonds and / or Certificate of Deposits and / or other borrowings,” Bank of Baroda had informed.
Bank of Baroda share price today
However, Bank of Baroda share price has been trading in tight range since early morning deals though market was well informed about today’s board meeting to consider and approve fund raise. Bank of Baroda share price today had a par opening and it soon went on to hit intraday low of ₹174.60 on NSE, logging around 1.75 per cent slump during Friday deals. However, the PSU stock pared some early morning losses after the fund raise programmed became public.
However, Bank of Baroda share price has ascended to the tune of 8 per cent in last one month whereas in YTD time, it has delivered zero return as it slipped around 5.50 per cent in 2023. But, in last one year, Bank of Baroda share price has delivered more than 50 per cent return to its positional shareholders.
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