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Bank of Baroda to raise up to 12.85B rupees via bonds

Bank of Baroda plans to raise up to 12.85 billion Indian rupees by issuing capital bonds in two tranches.

The bank said it would issue Tier 2 capital bonds with one tranche having a base issue size of up to 1 billion rupees and an overallotment option to retain oversubscription of up to 1.85 billion rupees and another tranche with a base issue size of up to 2.5 billion rupees with an option to oversubscribe up to 7.5 billion rupees.

As of Jan. 2, US$1 was equivalent to 70.05 Indian rupees.