New Delhi: State-owned Bank of Baroda (BoB) plans to raise ₹11,900 crore during the current fiscal through share sale, including Employee Share Purchase Scheme to shore up capital for meeting business expansion requirement. The bank expects to garner ₹1,500 crore from Bank of Baroda Employee Share Purchase Scheme (BoB-ESPS). It has been decided to raise size of ESPS scheme to 15 crore shares with a face value of ₹2 each as against 10 crore shares proposed in January this year. It will help the bank raise equity capital to shore up capital adequacy and to fund the general business needs, it said. The consolidated entity started the operation with a business mix of over ₹15 lakh crore on the balance sheet, with deposits and advances of ₹8.75 lakh crore and ₹6.25 lakh crore, respectively.

Source: Mint June 02, 2019 09:22 UTC