Shares of Bank of Baroda slipped 2% after the public sector lender said its board has approved a proposal to raise Rs 8,500 crore by issuing equity shares through a qualified institutional placement (QIP), to be conducted in suitable tranches up to March 2028 and beyond.
Bank of Baroda stock slipped 2% to Rs 206.50 on Friday against the previous close of Rs 210.75 on BSE. Total 1.54 lakh shares of Bank of Baroda changed hands amounting to a turnover of Rs 3.20 crore. Market cap of the lender fell to Rs 1.06 lakh crore on BSE.
The share hit a 52-week high of Rs 298.45 on June 3, 2024 and 52 week low of Rs 206 on February 12, 2025.
The share trades lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. The banking stock has lost 22.7% in one year and fallen 14% since the beginning of this year.
"The Board of Directors of our Bank in its meeting held today i.e. 13.02.2025 has approved raising of capital up to Rs.8500 crores by way of common equity capital by various modes including QIP in suitable tranches up to March 2028 and beyond, as required. This will be subject to applicable statutory/regulatory approvals," said the lender.
"Additionally, the Board has authorized extension of time upto 31.03.2026 and beyond, if required, for raising of the remaining capital of Rs 4,000 crores, (by way of Additional Tier I (AT I) and or Tier II Debt Capital Instruments) out of the Rs 7,500 crores which was already approved by the Board as a part of previous year’s capital plan in its meeting dated 05.07.2024," the bank added.