Bank of Bar­oda gets share­hold­ers' nod to raise ~60 bil­lion

Business Standard - - ECONOMY -

Bank of Bar­oda has re­ceived ap­proval from share­hold­ers to raise up to ~60 bil­lion by is­su­ing eq­uity shares through var­i­ous modes, in­clud­ing QIP, rights is­sue or a fol­low-on pub­lic of­fer. "Bank of Bar­oda re­ceived ap­proval from share­hold­ers to raise an ad­di­tional ~60 bil­lion through eq­uity cap­i­tal, by way of QIP/ FPO/ pref­er­en­tial is­sue/ rights is­sue/ ADR-GDR/ pri­vate place­ment/ com­pul­so­rily con­vert­ible deben­tures and any other mode or a com­bi­na­tion of th­ese at pre­mium/ dis­count," the bank said in a state­ment af­ter its an­nual gen­eral meet­ing held on Fri­day. The meet­ing was chaired by Chair­man Ravi Venkate­san in pres­ence of manag­ing di­rec­tor and chief ex­ec­u­tive of­fi­cer P S Jayaku­mar and other key of­fi­cials and board of direc­tors.

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