This bank will raise Rs 10000 crore, board approval, 3 more companies will soon take decision on raising funds
Currently, many companies are in the queue to raise funds in the stock market. The boards of some of them have approved the plan, while some have meetings in the coming days. One of them, Bank of Baroda, informed on Wednesday that its board has approved the plan to raise funds. The bank gave this information after the market closed. According to the information sent to the stock market, the bank will raise Rs 10 thousand crore in the current financial year. According to the bank, the time limit for raising funds may also be extended.
In a letter sent to the market, the bank said that the board of Bank of Baroda met on December 18 in which approval was given to raise funds through long term bonds for financing infrastructure and affordable housing projects. Under this, Rs 10 thousand crore will be raised in one or more times in the financial year 2024-25 or beyond. In Wednesday’s trading, the stock of Bank of Baroda closed at 251 with a decline of more than 2 percent. A year ago the stock was close to 220 levels.
Which other companies are in the queue
At present, many other companies have informed about their plans to raise funds. Out of these, the board meeting of Restaurant Brands Asia is to be held this Friday in which the plan to raise funds through QIP will be considered. At the same time, Suyog Telematics has informed that the company’s board meeting is to be held on December 21 in which the plan to raise funds will be considered. Along with this, IIFL Finance will consider the plan to raise funds through debt instruments on December 23.
