Bank of baroda

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Red Herring Prospectus
Dated December 29, 2005
100% Book Building Issue
BANK OF BARODA
(Bank of Baroda was originally incorporated on July 20, 1908 under the Baroda Companies Act, 1897 as
“Bank of Baroda Limited” with its Head Office at Vadodara).
(Constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 on July 19, 1969)
Head Office:
Baroda House, Mandvi, Vadodara 390 006, Gujarat, India Tel: [phone]; Fax: [phone]
Corporate Office:
Baroda Corporate Centre, C-26, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai 400 051, Maharashtra
Tel:
(91 22) 5698 5000-04, 2652 2112; 
Fax:
(91 22) 2652 3510, 2652 1955
Contact Person:
P.K. Ramaswamy Iyer; 
Email:
[e-mail]; 
Website:
www.bankofbaroda.com
PUBLIC ISSUE OF UP TO 71,000,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. [
] PER EQUITY SHARE
AGGREGATING RS. [
] MILLION BY BANK OF BARODA (THE “BANK” OR “ISSUER”) (THE “ISSUE”). THE ISSUE COMPRISES A NET ISSUE
TO THE PUBLIC OF UP TO 63,900,000 EQUITY SHARES OF RS. 10 EACH (THE “NET ISSUE”) AND A RESERVATION FOR ELIGIBLE
EMPLOYEES OF UP TO 7,100,000 EQUITY SHARES OF RS. 10 EACH, AT THE ISSUE PRICE. THE ISSUE WOULD CONSTITUTE 19.49% OF
THE TOTAL POST ISSUE PAID-UP EQUITY CAPITAL OF THE BANK.
PRICE BAND: Rs. [
] TO Rs. [
] PER EQUITY SHARE OF FACE VALUE Rs. 10
THE PRICE BAND AND THE MINIMUM BID LOT SIZE FOR THE ISSUE WILL BE DECIDED BY US IN CONSULTATION
WITH THE BRLMS AND ADVERTISED AT LEAST ONE DAY PRIOR TO THE BID/ISSUE OPENING DATE.
The Issue is being made through the 100% book building process where up to 50% of the Net Issue shall be allocated on a proportionate basis to Qualified
Institutional Buyers (“QIBs”) (including 5% of the QIB portion that would be specifically reserved for Mutual Funds). Further, not less than 15% of the Net Issue shall
be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation on a
proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Up to 7,100,000 shares shall be allotted on a
proportionate basis to Eligible Employees.
RISK IN RELATION TO THE ISSUE
We are listed on the National Stock Exchange of India Limited, Bombay Stock Exchange Limited and the Vadodara Stock Exchange Limited. The Issue Price (as
determined by Bank of Baroda in consultation with the Book Running Lead Managers (“BRLMs”) on the basis of assessment of market demand for the Equity Shares
by way of book-building) should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. The market price of the
existing Equity Shares of Bank of Baroda could affect the price discovery through book building and vice versa. No assurance can be given regarding an active and/
or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
GENERAL RISKS
Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take
the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this Issue. For taking an
investment decision, investors must rely on their own examination of Bank of Baroda and the Issue including the risks involved. The Equity Shares offered in the
Issue have not been recommended or approved by the Securities and Exchange Board of India (“SEBI”), nor does SEBI guarantee the accuracy or adequacy of this
Red Herring Prospectus. Specific attention of the investors is invited to the section titled “Risk Factors” on page xiii
 
of this Red Herring Prospectus.
ISSUER’S RESPONSIBILITY
The Bank having made all reasonable inquiries, accepts responsibility for and confirms that this Red Herring Prospectus contains all information with regard to the
Bank and the Issue, which is material in the context of the Issue, that the information contained in this Red Herring Prospectus is true and correct in all material
aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the
omission of which makes this Red Herring Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading in any
material respect.
LISTING
The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the National Stock Exchange of India Limited (Designated Stock
Exchange), Bombay Stock Exchange Limited and the Vadodara Stock Exchange Limited. We have received in-principle approval from the National Stock Exchange
of India Limited, Bombay Stock Exchange Limited and the Vadodara Stock Exchange Limited, for the listing of the Equity Shares pursuant to letters dated October
19, 2005, October 17, 2005 and October 18, 2005, respectively. The Designated Stock Exchange is the National Stock Exchange of India Limited.