Public lender Bank of Baroda is set to raise up to Rs.3,000 crore through Basel III compliant bonds.

“The finance committee of our bank approved today issuance of AT-1 capital bonds compliant with Basel III capital regulations… for a minimum amount of Rs.500 crore with greenshoe option and total issuance not to exceed Rs.3,000 crore,” the bank said in a regulatory filing today.

The raising of funds will be in single or multiple tranches.

The stock was trading at Rs.161.90, down 0.37 per cent from its previous close, on the BSE.