Bank Of Baroda Comes Up With Capital Raising Plan



The Public-Sector Bank, Bank of Baroda is planning to raise Rs 9000 Cr through various instruments like FPO, reported leading business news agency.

The board of the bank have approved capital raising of up to Rs 9000 Cr up to March 31, 2018, including of Rs 6000 Cr by way of equity capital and remaining Rs 3000 Cr from the tier I capital instruments, reported leading news agency. The bonds would be issued in India or overseas with appropriate tranches.

Various banks in the market have publicised their capital raising plans from the market which totals to Rs 1.1 lakh Cr, reports the leading national business news agency.

The bank stocks are buzzing since the government have been working to resolve the NPA issues of various banks. The Bank of Baroda stock gained around 12% in past three months. The stock is trading at PE of 29.89 times. The book value stood at Rs 162.56 per share, as reported by the leading research agency.

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