The capital raising committee of whole-time directors meets on September 18 to consider raising debt capital for the bank.
Bank of Baroda tanked over 4 percent to Rs 97.20 intraday on September 13 following reports that the public lender planned to raise capital via bonds on September 18.
“The capital raising committee (CRC) of whole-time directors of the bank is scheduled to be held on September 18 to consider raising of debt capital for the bank through issuance of Basel III compliant tier II bonds /additional tier 1 bonds,” the bank said in a regulatory filing.
The bank also plans to sell Dena Bank headquarters at Mumbai's Bandra-Kurla complex at a reserve price of Rs 530 crore. The auction will be held on October 18.
Dena Bank along with Vijaya Bank merged with Bank of Baroda in April.
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