Bank of Baroda will issue long-term infrastructure bonds worth Rs 5,000 crore in the second tranche.
The board of directors of the public sector bank had approved to issue infrastructure bonds worth Rs 10,000 crore in FY24.
The base issue size of the offering is Rs 1,000 crore, with a greenshoe option of Rs 4,000 crore, for a period ranging from 7 to 10 years, according to the bank's exchange filing issued on Monday.
Of the total approval, Rs 5,000 crore has already been allocated under the first tranche on Dec. 1, 2023, it said.
Shares of Bank of Baroda closed 2.62% higher at Rs 387.50 apiece, as compared with a 1.05% rise in the benchmark BSE Sensex.
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