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Bank of Baroda to issue fresh equity shares under staff stock purchase scheme

Press Trust of India  |  New Delhi 

of Baroda Thursday said it will issue 10 crore fresh equity shares for its staff under the employee purchase scheme.

The in its meeting held Thursday has inter-alia considered and approved issuance of up to 10 crore fresh equity shares to its employees in one or multiple tranches under of Baroda Employee Purchase Scheme (BOB-ESPS), BoB said in a regulatory filing.

The bank said the equity issuance to staff is subject to modalities of scheme to be finalised by

Wednesday, Wednesday had said it will raise Rs 539.50 crore by issuing 10 crore equity shares to its employees under staff purchase scheme.

PNB staff will be able to subscribe to the offer between November 30 and close on December 10, 2018.

The government in March 2017 had allowed public sector banks to offer options to their employees, aimed at retaining experienced hands and better incentives besides a means of capital raise.

Shares of closed 0.29 per cent up at Rs 105 apiece on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 20:45 IST