Bank of baroda

Bidders are advised to ensure that any single Bid from them does not exceed the investment limits or maximum
number of Equity Shares that can be held by them under applicable law.
Application by Mutual Funds
As per the current regulations, the following restrictions are applicable for investments by mutual funds:
No mutual fund scheme shall invest more than 10% of its net asset value in the Equity Shares or equity related
instruments of any company provided that the limit of 10% shall not be applicable for investments in index funds or sector
or industry specific funds. No mutual fund under all its schemes should own more than 10% of any company’s paid-up
share capital carrying voting rights. These limits would have to be adhered to by the mutual funds for investment in the
Equity Shares.
In case of a mutual fund, a separate Bid can be made in respect of each scheme of the mutual fund registered with SEBI
and such Bids in respect of more than one scheme of the mutual fund will not be treated as multiple Bids provided that
the Bids clearly indicate the scheme concerned for which the Bid has been made.
Application by Eligible Non-Residents
Foreign investment in a corresponding new bank is regulated by the provisions of the Bank Acquisition Act as applicable
to the Bank. Under Section 3(2D) of the Bank Acquisition Act, foreign investment in a corresponding new bank is subject
to an overall statutory limit of 20% of the paid up capital of the corresponding new bank. For corresponding new banks,
the RBI monitors the ceilings on Non-Resident investments on a daily basis. For effective monitoring the RBI has fixed cut
off points lower than the actual ceiling which is 18% for public sector banks. Once the aggregate net purchase of equity
shares reaches the cut off point further acquisition of equity shares by Non-Residents require approval of the RBI till the
limit is reached till 20% beyond which Non-Residents cannot acquire further shares.
The above information is given for the benefit of the Bidders. Our Bank and the BRLMs are not liable for any amendments
or modification or changes in applicable laws or regulations, which may happen after the date of this Red Herring
Prospectus. Bidders are advised to make their independent investigations and ensure that the number of Equity Shares
bid for do not exceed the applicable limits under laws or regulations.

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