The Bank of Baroda said it will divest 49 per cent of its shareholding in its subsidiary BOB Financial Solutions (BFSL).
The bank's Board of Directors approved the issuance of an advertisement inviting Expressions of Interest ("EOI"), from Suitable Investors or Strategic Partners to acquire the shareholding of BOB in its subsidiary, it apprised stock exchanges Thursday late in the evening.
Bank of Baroda currently holds 100 per cent of the total equity share capital of BOB Financial Solutions.
"The details about the process of the transaction and other relevant details will be published on March 10, 2023, for inviting EOI from the Suitable Investors / Strategic Partners, and can be accessed at https://www.bankofbaroda.in. & https://www.bobfinancial.com/tenders.jsp," the bank said.
( With inputs from ANI )
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