Bank of baroda

EPS (Rs.)
P/E
Return On
Book Value
Average
per Share
Net Worth
(Rs.)
(%)
Bank of Baroda
(1)
23.08
10.79
12.66
182.36
Peer Group 
(2)
State Bank of India
80.0
9.6
19.4
457.4
Punjab National Bank
44.0
8.9
22.5
248.9
Bank of India
7.0
17.1
8.4
88.0
Canara Bank
26.3
9.8
20.0
146.1
Union Bank
15.2
8.2
25.1
68.2
Peer Group (Simple) Average
10.72
19.08
Source:
(1)
Our EPS, Return on Average Net Worth and Book Value per Share have been calculated from our audited restated
financial statements. Our PE is based on the closing market price of our Equity Shares on NSE as on September
30, 2005.
(2)
Source for other information is “Capital Market” Volume VolumeXX/14 dated September 12, 2005 to September 25,
2005.
The Issue Price of Rs. [
] has been determined on the basis of the demand from investors through the book-building
process and is justified based on the above accounting ratios. The face value of the Equity Shares is Rs. 10 each and the
Issue Price is [
] times of the face value.
The BRLMs believe that the Issue Price of Rs. [
] is justified in view of the above qualitative and quantitative parameters.
See the section titled “Risk Factors” on page xiii of this Red Herring Prospectus and the financials of the Bank including
important profitability and return ratios, as set out in the Auditors’ report on page 157 of this Red Herring Prospectus to
have a more informed view.

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BANK OF BARODA