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Bank of Baroda plans to raise up to Rs 15,000 crore via bonds

The capital raising committee of the bank met earlier today and decided to raise Rs 5,000 crore through tier-II bonds and Rs 10,000 crore through infrastructure bonds, Bank of Baroda said in an exchange filing

November 19, 2023 / 01:38 AM IST
Bank of Baroda

The PSU lender on November 4 reported a net profit of Rs 4,252.89 crore for the September quarter of 2023-24, up 28.3 percent from last year, on the back of improved asset quality and healthy core income growth

 
 
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State-owned Bank of Baroda (BoB) on November 18 said in an exchange filing that it plans to raise up to Rs 15,000 crore through tier-II and infrastructure bonds to fund business growth.

The capital raising committee of the bank met earlier today and decided to raise Rs 5,000 crore through tier-II bonds and Rs 10,000 crore through infrastructure bonds, it said in an exchange filing.

Bank of Baroda’s regulatory filing read: “The capital raising committee of the bank in its meeting held on Saturday has approved the issuance of Rs 2,000 crore tier II/sub-debt bond with the greenshoe option to raise another Rs 3,000 crore totalling Rs 5,000 crore (10 years with a call option at the end of five years.”

It added: “The bank has further decided to issue infrastructure bonds amounting to Rs 2,000 crore with a greenshoe option to raise an additional Rs 8,000 crore totalling the issue size of Rs 10,000 crore (tenure up to seven years).”

The PSU lender on November 4 reported a net profit of Rs 4,252.89 crore for the September quarter of 2023-24, up 28.3 percent from last year, on the back of improved asset quality and healthy core income growth. The bank's net interest income (NII) grew 6.4 percent year-on-year to Rs 10,831 crore.

Moneycontrol News
first published: Nov 18, 2023 10:32 pm

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