Bank of baroda

BANK OF BARODA
8.
In case of a downward revision in the Price Band and employees bidding under the Employee Reservation,
announced as above, Retail Individual Bidders, who have bid at Cut-off Price could either revise their Bid or the
excess amount paid at the time of bidding would be refunded from the respective Escrow Accounts/refund account(s).
9.
In the event of any revision in the Price Band, whether upwards or downwards, the minimum application size shall
remain [
] Equity Shares irrespective of whether the Bid Amount payable on such minimum application is not in the
range of Rs. 5,000 to Rs. 7,000.
Escrow Mechanism
We shall open Escrow Accounts with one or more Escrow Collection Bank in whose favour the Bidders shall make out
the cheque or demand draft in respect of his or her Bid and/or revision of the Bid. In case of Bids by QIBs, QIBs may also
remit the Bid Amount through an electronic of funds under the RTGS mechanism. Cheques or demand drafts received for
the full Bid Amount from Bidders in a certain category would be deposited in the respective Escrow Account. The Escrow
Collection Bank will act in terms of this Red Herring Prospectus and the Escrow Agreement. The monies in the Escrow
Accounts shall be maintained by the Escrow Collection Bank for and on behalf of the Bidders. The Escrow Collection
Bank shall not exercise any lien whatsoever over the monies deposited therein and shall hold the monies therein in trust
for the Bidders. On the Designated Date, the Escrow Collection Bank shall transfer the monies from the Escrow Accounts
to the Issue Account as per the terms of the Escrow Agreement. Payments of refund to the Bidders shall also be made
from the Escrow Accounts/refund account(s) as per the terms of the Escrow Agreement and this Red Herring Prospectus.
The Bidders should note that the escrow mechanism is not prescribed by SEBI and has been established as an
arrangement between us, the members of the Syndicate, the Escrow Collection Bank and the Registrar to the Issue to
facilitate collections from the Bidders.