Bank of Baroda to divest its stake in Nainital Bank Ltd

The Board of Directors of Bank have approved divestment of its majority shareholding in the Nainital Bank Limited ("NBL"), and authorised issuance of an advertisement inviting Expressions of Interest ("EOI"), through a Preliminary Information Memorandum ("PIM"), from interested parties (IPs) to acquire majority shareholding of BOB in NBL.

Bank of Baroda currently holds 98.57% of the total equity share capital of NBL.

Shares of Bank of Baroda was last trading in BSE at Rs. 193.05 as compared to the previous close of Rs. 190.10. The total number of shares traded during the day was 1319813 in over 10531 trades.

The stock hit an intraday high of Rs. 194.65 and intraday low of 190.00. The net turnover during the day was Rs. 254497863.00.

Source : Equity Bulls

Keywords

BankofBaroda INE028A01039 BOB Divestment NainitalBank