236% return in 3 years: This PSU bank stock in focus after raising Rs 5,000 crore from infra bond

Bank of Baroda Share Price NSE, BSE: Shares of state-owned Bank of Baroda (BoB) will be in focus on Wednesday as the PSU has raised Rs 5,000 crore by issuing long-term infrastructure bonds.

The stock opened in red even as Sensex climbed 128.81 points to 81,840.57 in early trade on Friday and Nifty was up 30.4 points to 25,048.15. The counter opened at Rs 250.70 against the previous close of Rs 251.10 on the BSE. It dipped further to touch the intra-day low of Rs 2490.60. Last seen, the scrip was trading at Rs 249.70.

The stock has been losing for the last four days. 

Bank of Baroda Share Price History

The PSU Bank stock has given a multibagger return of 236 per cent in three years and a 95 per cent return in two years. The counter has gained around 31 per cent in one year.

Bank of Baroda in News

Meanwhile, the state-owned Bank of Baroda on Tuesday said it has raised Rs 5,000 crore by issuing long-term infrastructure bonds.

The lender said it is a ten-year bond issued at a coupon of 7.30 per cent, as per an official statement.

It can be noted that a slew of Indian lenders, including SBI, have raised resources through the infrastructure bonds route lately.

After launching the issue, the bank received 146 bids amounting to over Rs 15,000 crore, and settled by accepting bids of Rs 5,000 crore, the statement said.

The base issue was Rs 2,000 crore while the greenshoe option allowed to retain subscriptions of an additional Rs 3,000 crore, it added.

These bonds are senior, unsecured, listed, rated, taxable Bonds, having a fixed maturity of 10 years from the date of allotment, it said, adding that they are rated AAA with stable outlook by Crisil and India Ratings.