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Bank of Baroda to Raise $1 Billion Via QIP
January 24, 2018
Following other public sector banks that sold their shares to raise capital, state-run Bank of Baroda is going to float its $1-billion qualified institutional placement (QIP) of shares within the next few weeks, people aware of the developments said.
Indian banks have been trying to raise capital to improve their capital adequacy ratio to prepare for the government’s recapitalization plan. In June 2017, public sector State Bank of India raised Rs. 15,000 crore via QIP route, and in December 2017, Punjab National Bank raised Rs. 5,000 crore via the same route.
