Bank of Baroda will raise $4 billion through bonds. Stock down 1.75%

Bank of Baroda informs Indian Share Market Describing the fund raising programme, “The Board of Directors of the Bank has, inter alia, decided to raise foreign currency funds by issuing bonds up to US$ 1.00 billion and Certificates of Deposit up to US$ 3.00 billion under the Bank’s MTN programme.” has considered and approved the enhancement of the CD program in one or more tranches at an appropriate time.

Bank of Baroda informed that the board of directors of the state-owned bank has also considered and approved raising funds up to $3 billion through bilateral/other borrowings.

In its previous exchange communication, Bank of Baroda had informed that its board of directors is considering raising funds through debentures, issuance of bonds and other borrowings.

“We inform that the meeting of the Board of Directors of our Bank is scheduled to be held on 21.04.2023, inter alia, to consider raising foreign exchange funds by issue of Bonds and/or Certificates of Deposit and/or other borrowings and will be approved.” Bank of Baroda had informed about this.

Bank of Baroda share price today

However, Bank of Baroda share price is trading in a range-bound range since morning deals even though the market was well informed about today’s board meeting to consider fund raising. Bank of Baroda share price made a good start today and it soon hit the day’s low 174.60 on the NSE, down about 1.75 per cent during Friday’s deals. However, the PSU stock pared some of the morning’s losses after the fund-raising program became public.

Though Bank of Baroda share price has gained up to 8 per cent in the last one month, while in YTD time, it has given zero returns as it slipped to around 5.50 per cent in 2023. But, in the last one year, Bank of Baroda share price has given more than 50 per cent returns to its positional shareholders.