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| BoB to raise Rs 35 bn via debt to fund expansion | |||
| 26 Jul 2009
: Bank of Baroda (BoB) has plans to raise Rs 35 billion by various debt instruments during the current financial year to fund its expansion plan. The board of directors has approved a plan of raising debt capital of Rs 35 billion during the financial year 2009-10, in order to support the business expansion plans. The bank would raise funds by way of innovative perpetual debt instruments (IPDI), perpetual non-cumulative preference shares (PNCPS) - eligible to be reckoned as Tier-I capital -- or Upper/Lower Tier-II debt capital instruments - eligible to be reckoned as Tier-II capital or a combination of both. Shares of the company gained Rs 3.8, or 0.88%, to settle at Rs 433.20. The total volume of shares traded was 84,428.00 at the BSE (Friday). |
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