Bank of Baroda lost 1.44% to Rs 182 at 9:18 IST on BSE after the bank said it has fixed issue price at Rs 192.74 per share, for preferential allotment of shares to the Government of India.
The announcement was made after market hours yesterday, 31 August 2015.
Meanwhile, the S&P BSE Sensex was down 233.10 points or 0.89% at 26,049.99.
On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 11.69 lakh shares in the past two weeks.
The stock hit a high of Rs 182.70 and a low of Rs 181 so far during the day. The stock had hit a record high of Rs 228.80 on 23 January 2015. The stock had hit a 52-week low of Rs 137.50 on 29 June 2015.
The issue price of Rs 192.74 per share is at a premium of 4.38% over Bank of Baroda stock's closing price of Rs 184.65 yesterday, 31 August 2015.
It may be recalled that the Government of India (GoI) has recently decided to infuse capital funds to the tune of Rs 1786 crore in Bank of Baroda by way of preferential allotment of equity shares in favour of GoI.
Bank of Baroda's net profit fell 22.7% to Rs 1052.15 crore on 4.8% increase in total income to Rs 12243.72 crore in Q1 June 2015 over Q1 June 2014.
The Government of India holds 57.53% stake in Bank of Baroda (as per the shareholding pattern as on 30 June 2015).
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