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Bank of Baroda to sell up to 49 per cent stake
The Business Guardian
|July 03, 2023
Bank of Baroda (BoB), a government-owned bank, plans to divest up to 49% of its ownership stake in BOB Financial Solutions Ltd., its credit card division. Currently, BoB holds full ownership, but it intends to reduce its ownership percentage through the sale.
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According to a senior bank official, the process to bring on a strategic investor would take place through a Request for Proposal that the bank has issued.
BOB intends to offload up to 49 per cent in a combination of primary and secondary capital from one or multiple investors to create more value in BOB Financial Solutions and take it to the next level of growth, the official said.
This story is from the July 03, 2023 edition of The Business Guardian.
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