Bank of Baroda share price traded under selling pressure in the early trade on Friday after its board approved Rs 8,500 crore fundraise at its meeting held on Thursday, February 13.
At around 9:50 AM, the shares of Bank of Baroda were down 0.49 percent to quote at Rs 209.76 per share on the NSE.
Bank of Baroda plans to raise funds through a Qualified Institutional Placement (QIP) or other methods, subject to regulatory approvals.
"The Board of Directors of our Bank, in its meeting held today, i.e., 13.02.2025, has approved raising capital up to ₹8,500 crores by way of common equity capital through various modes, including QIP, in suitable tranches up to March 2028 and beyond, as required," the lender stated in an exchange filing.
The bank reported a net profit of Rs 4,837 crore for the third quarter ended December 31, 2024. The consolidated profit was 5.6 percent higher than Rs 4,579 crore recorded in the October-December quarter of the previous year.
The total income of the bank rose to Rs 34,676 crore in the third quarter of the current fiscal from Rs 31,416 crore in the same period last year, Bank of Baroda mentioned in a regulatory filing.
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