Bank of Baroda closes QIP, sets issue price at Rs 81.70 per share

The board of Bank of Baroda today approved closure of qualified institutional placement, and set the issue price at 81.70 rupees per share, according to the disclosure made to stock exchanges. The issue price is at a discount of 5% to the floor price, which was at 85.98 rupees a piece. On Thursday, the bank's board had approved raising funds up to 45 bln rupees through the qualified institutional placement. As on Dec 31, Bank of Baroda's Basel III capital adequacy ratio was at 12.93%.