Preparation to boost funds by Financial institution of Baroda’s QIP difficulty, board assembly shall be held on 13 February – INA NEWS

The Board of Financial institution of Baroda shall be held on 13 February. On this, a call shall be taken on the proposal to boost funds in some ways together with certified Institutional Placement (QIP) difficulty. The financial institution shares have fallen by 1.42 per cent on 3 February right now and this inventory has closed at Rs 207.85 on BSE. The corporate’s market cap is Rs 1.07 lakh crore.

Financial institution of Baroda stated within the trade submitting, “The board assembly is scheduled to be held on 13 February 2025, during which different issues, in addition to by 31 March 2026 and even after that within the acceptable installments, by some ways together with widespread fairness capital, together with QIP. The plan to boost capital shall be thought of.

CNBC-TV18 had earlier said that the federal government has authorised a plan to boost an quantity of Rs 10,000 crore for 5 public sector banks by QIP route. Aside from Financial institution of Maharashtra, 4 different lender, Punjab and Sindh Financial institution, Indian Abroad Financial institution, UCO Financial institution and Central Financial institution of India have obtained approval to boost funds.

Sources advised CNBC-TV18 that these lender can increase cash in small installments from the fourth quarter of the monetary yr 2025. Sources stated that the Division of Disinvestment and Public Asset Administration (DIPAM) has additionally obtained an order to promote stake in these lenders by the Provide for Sale (OFS) route. The federal government is attempting to finish 25% minimal public shareholding in these PSU banks by August 2026.

Based on the most recent shareholding sample on BSE, the federal government holds 79.6% stake in Financial institution of Maharashtra on the finish of December quarter, whereas 98.25% stake in Punjab & Sindh Financial institution, 96.38% stake in Indian Abroad Financial institution, 95.39% stake in UCO Financial institution and Central Financial institution of India has a 93.08% stake. Primarily based on the present share value, the extra share of the federal government in these 5 lenders is round ₹ 50000 crore.