Bank of Baroda raises Rs. 5,000 Crores at a coupon of 7.57%
Mumbai, January 27, 2024: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced that it has raised Rs. 5,000 Crores through the issuance of Long-Term Infrastructure Bonds.
The Bank received a total of 128 bids amounting to Rs. 14,950 Crores against the total issue size of Rs. 5,000 Crores (Base issue of Rs. 1,000 Crores and Greenshoe option to retain oversubscription up to Rs. 4,000 Crores). This translates to ~15 times the base issue size and ~3 times the total issue size. The Bank accepted bids for Rs. 5,000 Crores at a coupon of 7.57% p.a.
The Bank said that the private placement of long-term infrastructure bonds received an overwhelming response, resulting in over-subscription which allowed it to price the issue at a competitive 7.57% p.a. This is despite tight liquidity conditions prevalent in the market.
These bonds are senior, unsecured, listed, rated, taxable Bonds, having a fixed maturity of 10 years from the date of allotment.
The allotment of these bonds took place on 25th January 2024.
The bonds are rated AAA with a Stable outlook by CRISIL and India Ratings.
Next Story :
-
Rajasthani Film ‘Bharkhama’ Won Special Jury Mention at JIFF 2025
![Rajasthani Film ‘Bharkhama’ Won Special Jury Mention at JIFF 2025]()
The Rajasthani film Bharkhama made waves at the Jaipur International Film Festival (JIFF) 2025, earning the distinguished Special Jury Mention Award. The movie’s special screening at GT Inox, Malviya Nagar, Jaipur, left a profound impact on both viewers and critics, marking a significant moment for regional cinema. The event was further elevated by the presence…
-
Trump Launches $500 Billion “Stargate” AI Venture
![Trump Launches $500 Billion “Stargate” AI Venture]()
In a major push to advance artificial intelligence (AI) infrastructure, United States President Donald Trump revealed a $100 billion joint venture called “Stargate” on January 21 (January 22 IST). The initiative, spearheaded by SoftBank Group, OpenAI, and Oracle Corporation, aims to revolutionize AI development in the U.S. with plans to scale the investment to $500…
-
Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection
![Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection]()
In Lavera village of Srinagar block, Ajmer district, a wedding procession proceeded peacefully on January 21 under heavy police protection. Around 400 police personnel were deployed to prevent potential opposition from upper-caste locals, who reportedly objected to the groom riding a horse—an act traditionally viewed as a symbol of status and equality.
-
Beti Bachao Beti Padhao Marks 10 Years of Launch
![Beti Bachao Beti Padhao Marks 10 Years of Launch]()
As India marks the tenth anniversary of the Beti Bachao Beti Padhao (BBBP) initiative, Prime Minister Narendra Modi has hailed the program’s transformative impact on addressing gender disparities and empowering the girl child. Launched on January 22, 2015, the initiative has evolved into a landmark movement for gender equality and girl-child education in India.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
