State-owned Bank of Baroda on Thursday said the Finance Committee of the board will meet next week to consider approving its plan to raise Rs 6,000 crore via QIP or rights issue. The meeting of the designated board committee i.e. Finance Committee of the board will be held on November 21, 2017 to consider and approve of equity fund, the bank said in a regulatory filing.
BOB said the equity fund can be raised through “qualified institutions placement (QIP), and/or rights issue for size and amount as may be decided, within overall approval of the board of raising Equity Capital up to Rs 6,000 crore”.
Shares of the bank closed 4.58 per cent up at Rs 182.50 per unit on BSE.