Breaking News: The Bank of Baroda is now officially here to issue the infrastructure bonds which are worth Rs. 5,000 crore on 30th November 2023, Thursday. It has been claimed that the Rs. 5,000 worth issue is the big part of the larger Rs. 10,000 worth of bond issuance which is planned by the Bank of Baroda. This is a big announcement and action which is being made by the Bank today. This rise is going to bring a huge change but on the other, it is also going to surprise many people. To know about all the details regarding this rise infrastructure of BoB, read this article till the end.
According to the source, the Bank of Baroda (BoB) is now planning to raise the infrastructure bonds which are worth Rs. 10,000 crores with a base issue of Rs. 2,000 crores and a green shoe option of Rs. 8,000 crores, it has already informed the exchanges. It has been reported that these bonds are going to be tenured for more than 7 years. On 18th November 2023, the Bank of Baroda made a statement in which it has been said that capital is raising the committee which has been given the nod to raise to Rs. 15,000 crore, it is going to compromise over Rs. 5,000 crore through the issuance of the official tier 2 debt bonds. It has been said the maximum is Rs. 10,000 crore by the infrastructure bonds.
If we look at the details for today, Rs. 5,000 crore of the infrastructure bonds is going to be issued on 30th November 2023, Thursday which means today. This will be a part of the bank’s initial set. This is going to offer the base issue of Rs. 1,000 crore and also the green show option is going to be over Rs. 4,000 crore just for the period which ranges from 7 to 10 years.
The official bidding for those bonds was officially held between 11 am to 12 pm today by the NSE. According to the experts, the pay-in date for the bonds is 1st December 2023, Friday. It is going to mark the exchange between the issuer and investors. This has been rated “AAA” with a stable outlook by the CRISIL and by the India ratings. It has been told up that these bonds require a minimum application size of Rs. 1 lakh which is available in a multiple of the same amount. More details are to be shared very soon, so stay tuned to techballad.