Bank of Baroda, one of the leading public sector lenders, on Wednesday has raised Rs 45 billion equity capital through qualified institutional placement (QIP).

The capital raising committee of the board on Mar.3, 2021 approved the issue and allotment of 55,07,95,593 equity shares to eligible qualified institutional buyers at issue price of Rs 81.70 per share against the floor price of Rs 85.98 apiece.

Total seven buyers were allotted more than five per cent of the equity shares offered in the issue.  The seven buyers are BNP Paribas Arbitrage, SBI Life, LIC, Nippon India Large Cap Fund, ICICI Prudential Business Cycle Fund, Aditya Birla Sun Life Trustee and Societe Generale.

The state-owned bank opened the issue on February 25 and closed it on Tuesday, March 02, 2021.

Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the bank stands increased to Rs 10.34 billion, comprising 517,13,62,179 equity shares, said the lender.

Shares of the bank gained Rs 0.85, or 0.99%, to trade at  Rs 86.45.  The total volume of shares traded  was  3,354,438 at the BSE (12.17 p.m., Thursday).