Bank of Baroda plans to raise up to Rs 15,000 crore through bonds
Bank of Baroda is an Indian state-owned International banking and financial services company | Photo: Shutterstock
State-owned Bank of Baroda (BoB) on Saturday said it proposes to raise up to Rs 15,000 crore via bonds to fund business growth.
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 call option at the end of 5 years), BoB said in a regulatory filing.
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 totaling the issue size of Rs 10,000 crore (tenure up to 7 years), it said.
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First Published: Nov 18 2023 | 9:29 PM IST