Bank of Baroda is proposing to divest up to 76.90 lakh equity shares, representing 35% of its shareholding in the National Stock Exchange of India (NSE), through an Offer for Sale (OFS) as part of the exchange's proposed Initial Public Offering (IPO).
In an exchange filing on Tuesday, September 8, the bank said the proposed stake sale is subject to all applicable regulatory approvals.
"We advise that the Bank of Baroda is proposing to divest upto 76,90,375 equity shares, being equivalent to 35% of the shares held by the Bank in National Stock Exchange of India Limited (NSE), by way of Offer for Sale through Initial Public Offering, subject to all regulatory approvals," the bank said in its filing.
As part of the OFS process, the equity shares have been transferred to an escrow account on September 8, 2026. The sale is expected to be completed by the end of September 2026, as indicated by NSE.
The consideration from the stake sale will be received after completion of the OFS process. The transaction does not constitute a related-party transaction, according to the filing.