Bank of Baroda to raise up to Rs 2,500 cr via Basel III compliant bonds

Public sector lender Bank of Baroda on Friday said it plans to raise up to Rs 2,500 crore by issuing Basel III compliant bonds.

The 'Capital Raising Committee' has approved a proposal to raise tranche I of Basel III compliant Tier II bonds with a base issue size of Rs 1,000 crore with a green-shoe option to retain oversubscription of up to Rs 1,500 crore, it said in a BSE filing.

Under Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes.

The bank's shares were trading at Rs 219.20 apiece on BSE, down 0.36 per cent over the previous close.

The stock had touched a 52-week high of Rs 224.30 on Thursday.