The capital-raising committee of Bank of Baroda, on Monday, approved raising funds aggregating to ₹2,150 crore via issuance of Additional Tier I and Tier II capital bonds.
In a stock exchange notice, the public sector bank said the committee approved issuance of Basel III-Compliant Additional Tier I bonds for an aggregate issue size not exceeding ₹1,650 crore. This issuance will comprise a base issue size of ₹500 crore, and a greenshoe option to retain oversubscription up to ₹1,150 crore.
BoB will also issue Basel III-Compliant Tier II capital bonds for an aggregate issue size not exceeding ₹500 crore, with a base issue size of ₹250 crore, and a greenshoe option to retain oversubscription up to ₹250 crore.