Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015

Bank of Baroda has made a disclosure pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, regarding the incorporation of a new subsidiary. This is a follow-up to their earlier communication dated May 6, 2026 (Letter No. BCC:ISD:118:16:219).

Nature of the Event

The bank has incorporated a new wholly-owned subsidiary named BOB Pension Fund Management Company Limited. The certificate of incorporation was received from the Registrar of Companies, Ministry of Corporate Affairs on September 21, 2026.

Details of the Subsidiary

  • Corporate Identity Number (CIN): U65300MH2026PLC475895
  • Authorized Share Capital: ₹100.00 Crore
  • Industry: Pension Fund Management
  • Business Objects: The company will act as a Pension Fund Manager. Its business will involve receiving contributions, accumulating, investing, managing, and administering pension assets, and making payments or disbursements to subscribers or beneficiaries.
  • Date of Incorporation: September 21, 2026
  • Financial History: Not applicable, as the company is recently incorporated and is yet to commence commercial operations.

Transaction Details

  • Related Party Transaction: The disclosure confirms the acquisition is not a related party transaction, and promoters/promoter groups/group companies have no interest in the acquired entity.
  • Consideration Type: Cash consideration
  • Cost of Acquisition: The total proposed acquisition cost is ₹80,09,99,500 (₹80.10 Crore). This is for subscribing to 8,00,99,950 equity shares of ₹10 each.
  • Shareholding Acquired: Bank of Baroda will hold 80.10% of the subsidiary.
  • Completion Timeline: The acquisition is slated for completion by December 31, 2026.

Regulatory Approvals

The necessary governmental and regulatory approvals for this venture have been obtained:

1. A letter of appointment as a sponsor was received from the Pension Fund Regulatory and Development Authority (PFRDA) dated May 5, 2026.

2. Approval for the incorporation of the new subsidiary was granted by the Reserve Bank of India (RBI) on July 10, 2026.

Impact and Rationale

The purpose of the acquisition is for Bank of Baroda to undertake the pension fund management business, for which it is the sponsor. The impact involves the bank entering a new line of business in the financial services sector, regulated by PFRDA.