The Bank of Baroda board has approved up to 49 percent divestment in subsidiary BoB Financial Solutions, the company said in a regulatory filing on Thursday.

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"We advise that the Board of Directors of Bank of Baroda (BOB) have approved for divestment up to 49 percent of Bank’s shareholding in its 100 per cent owned subsidiary i.e. BOB Financial Solutions Ltd. (BFSL), and issuance of an advertisement inviting Expressions of Interest, from Suitable Investors/Strategic Partners to acquire shareholding of BOB in BFSL," the filing said.

BOB currently holds 100 percent of the total equity share capital of BFSL.

”The details about the process of transaction and other relevant details will be published on March 10, 2023 for inviting EOI from the Suitable Investors/Strategic Partners,” the filing added.

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First Published:Mar 9, 2023 11:26 PM IST