Indian IPO

All details about Hot Indian Primary Market.

Monday, January 16, 2006

Bank of Baroda FPO opened on January 16 for subscription.

Bank of Baroda, BoB, entered the capital market on January 16 with its follow-on public offering, FPO, for 7.1 crore equity shares of Rs 10 each.

Its price band has been fixed at Rs 210-230. The issue will close on January 20.

The issue constitutes 19.49% of the total post-issue paid-up capital.

After the follow-on issue, the government’s shareholding would come down to 53.81% from 66.83%.

The proceeds would help the public sector bank to augment its capital to meet the Basel-II norms and grow its assets and investment portfolio.

SBI Capital Markets and DSP Merrill Lynch are the book running lead managers to the issue. Karvy Computershare is the registrar to the issue.

The equity shares of the company are proposed to be listed on the BSE, NSE, and VSE.

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