Friday, 16 August 2013

Bank of Baroda seeks Rs 1,800-cr capital infusion from Govt


Public sector lender Bank of Baroda (BoB) has sought a Rs 1,800-crore capital infusion from the Centre.

The capital infusion would be through the preferential allotment of shares.

“We have sought a capital infusion of Rs 1,800 crore. It is likely to be through preference shares,” S.S. Mundra, Chairman and Managing Director, BoB, told presspersons on the sidelines of a FICCI Banking Conclave.

According to Mundra, the Centre would take a consolidated look into the matter.

The Government, currently, has a stake of 55.4 per cent, with headroom to bring it down to 51 per cent.

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