Bank of Baroda to raise up to Rs 1,132 cr under ESP scheme

Bank of Baroda will raise up to Rs 1,132.05 crore by issuing fresh shares to its staff under the Employee Share Purchase Scheme (ESPS), the bank said on Tuesday.

The decision was taken by the compensation committee of the board at its meeting held on Tuesday, the bank said in a regulatory filing.

"The compensation committee considered and approved Bank of Baroda ESPS-2019 for issue of up to 15 crore new equity shares to all eligible employees of the bank at a discount of 20 per cent..., the proposed issue price comes to Rs 75.47 per share," the bank said.

Banks shares closed 1.24 per cent down at Rs 91.45 on BSE.