Bank of Baroda to raise up to Rs 6,000 cr

Mumbai: State-owned lender Bank of Baroda on Tuesday said it proposes to raise up to Rs 6,000 crore through rights issue or private placement.

The finance committee of the bank's board has approved the proposal, the lender said in a regulatory filing.

"...The Finance Committee of the Board approved the proposal of raising additional equity capital aggregating up to Rs 6,000 crore by way of rights issue or qualified institutions placements (QIP)...," the bank informed stock exchanges.

Shares of the bank ended 2.17 percent lower at Rs 180.50 apiece on BSE on Tuesday.