MUMBAI: Bank of Baroda plans to raise Rs 2,500 crore through Basel III bonds.
The 'Capital Raising Committee' has given the green light to raise tranche I of Basel III compliant Tier II bonds. The base issue size is set at Rs 1,000 crore, with a green-shoe option to accommodate oversubscription of up to Rs 1,500 crore, as stated in a BSE filing.
In adherence to Basel-III capital regulations, banks globally are mandated to enhance and fortify their capital planning processes.
On the BSE, the bank's shares were trading at Rs 219.20 each, reflecting a 0.36 per cent decline from the previous close. The stock had reached a 52-week high of Rs 224.30 on Thursday.
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