Bank of baroda

Bids at Different Price Levels
1.
The Price Band and the minimum Bid size shall be advertised at least one day prior to the Bid Opening Date/ Issue
Opening Date in Financial Express, an English language newspaper with wide circulation, Jansatta, a Hindi language
newspaper with wide circulation and Vadodara Samachar, a Gujarati newspaper with wide circulation and also on
the websites of the BRLMs and the Bank, as appearing on the cover page. Bidders are advised to be guided by the
price of our listed Equity Shares in the secondary market for the purposes of making a decision to invest in the
Equity Shares offered as part of this Issue. The Bidders can bid at any price within the Price Band, in multiples of
[
].
2.
In accordance with SEBI Guidelines, the Bank reserves the right to revise the Price Band during the Bidding Period.
The cap on the Price Band should not exceed the floor of the Price Band by more than 20%. Subject to compliance
with the immediately preceding sentence, the floor of the Price Band can move up or down to the extent of 20% of
the floor of the Price Band disclosed in the Red Herring Prospectus.
3.
In case of revision in the Price Band, the Issue Period will be extended for three additional days after revision of
Price Band subject to a maximum of 10 working days. Any revision in the Price Band and the revised Bidding
Period/Issue Period, if applicable, will be widely disseminated by notification to NSE and BSE, by issuing a public
notice in Financial Express, an English language newspaper with wide circulation, Jansatta, a Hindi language
newspaper with wide circulation and Vadodara Samachar, a Gujarati newspaper all with wide circulation, and also
by indicating the change on the websites of the BRLMs and at the bidding terminals of the members of the
Syndicate.
4.
The Bank in consultation with the BRLMs can finalise the Issue Price within the Price Band in accordance with this
clause, without the prior approval of, or intimation, to the Bidders.
5.
Bidders can bid at any price within the Price Band. Bidders have to bid for the desired number of Equity Shares at
a specific price. Retail Individual Bidders and Bidders in the Employee Reservation Portion applying for a maximum
Bid in any of the bidding options not exceeding Rs. 100,000 may bid at Cut-off Price. However, bidding at Cut-off
Price is prohibited for QIB Bidders and Non-Institutional Bidders and such Bids from QIB Bidders and Non Institutional
Bidders shall be rejected.
6.
Retail Individual Bidders who bid at the Cut-off Price and employees bidding under the Employee Reservation
Portion at Cut-Off agree that they shall purchase the Equity Shares at any price within the Price Band. Retail
Individual Bidders bidding at Cut-off Price shall deposit the Bid Amount based on the Cap Price in the respective
Escrow Accounts. In the event the Bid Amount is higher than the subscription amount payable by the Retail
Individual Bidders who Bid at Cut-off Price (i.e. the total number of Equity Shares allocated in the Issue multiplied
by the Issue Price), the Retail Individual Bidders, who Bid at Cut off Price, shall receive the refund of the excess
amounts from the respective Escrow Accounts/refund account(s).
7.
In case of an upward revision in the Price Band announced as above, Retail Individual Bidders and Eligible
Employees bidding under the Employee Reservation, who had bid at Cut-off Price could either (i) revise their Bid
or (ii) make additional payment based on the cap of the revised Price Band (such that the total amount i.e. original
Bid Amount plus additional payment does not exceed Rs. 100,000 if the Bidder wants to continue to bid at Cut-off
Price), with the Syndicate Member to whom the original Bid was submitted. In case the total amount (i.e. original Bid
Amount plus additional payment) exceeds Rs. 100,000, the Bid will be considered for allocation under the Non-
Institutional Portion in terms of this Red Herring Prospectus. If, however, the Bidder does not either revise the Bid or
make additional payment and the Issue Price is higher than the cap of the Price Band prior to the revision, the
number of Equity Shares Bid for shall be adjusted downwards for the purpose of Allotment, such that the no
additional payment would be required from the Bidder and the Bidder is deemed to have approved such revised
Bid at Cut-off Price.

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