Amid sale tale of Dena Bank HQ, BoB committee decides to meet next week considering to raise funds via bonds

New Delhi, September 13: Ahead of its decision to sell the headquarters of Dena Bank in the financial capital at a reserve price of Rs 530 crore, the public sector lender Bank of Baroda on Friday said that its capital raising committee would meet next week to consider raising funds through bonds.

 

 

"The capital raising committee (CRC) of whole time directors of the bank is scheduled to be held on September 18 to consider raising of debt capital for the bank through issuance of Basel III compliant tier II bonds /additional tier 1 bonds," the bank said in a regulatory filing.

 

The bank, however, did not elaborate on the quantum of funds it plans to raise. With this the shares of Bank of Baroda traded at 4 per cent lower against their previous close at Rs 97.20 apiece on BSE.

 

Dena Bank and Vijaya Bank got amalgamated with Bank of Baroda from this April that made Bank of Baroda the third largest bank after State Bank of India and HDFC Bank.