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Informist, Friday, Mar. 13, 2026

--Bank of Baroda: Set up wholly owned arm named 'BOB Securities & Giltedge' 

--Bank of Baroda: BOB Securities & Giltedge to undertake standalone PD ops 

--Bank of Baroda: To infuse INR 20 bln capital in BOB Securities & Giltedge

MUMBAI – Bank of Baroda has incorporated a wholly owned subsidiary and standalone primary dealership 'BOB Securities & Giltedge', the state-owned bank informed exchanges Friday. The bank had received approval from the Reserve Bank of India early February to set up the primary dealership, it had said. The bank will infuse capital of INR 20 billion in two tranches into the standalone primary dealership, it said.

Bank of Baroda has an integrated primary dealership business to underwrite government-dated security issuances and participates in primary auctions. In January, the lender had said it will move its primary dealer business to a wholly-owned arm which would function as a standalone primary dealership. 

The development comes a day after Shriram Finance Ltd. said its wholly-owned arm Shriram Overseas Investments Ltd. has submitted an application to the RBI seeking a licence for primary dealership, after the central bank rejected the initial application. As of end-March, there were 21 primary dealers in India, 14 of which operated as departmental bank primary dealers and seven as standalone primary dealers.  

For the quarter ended December, Bank of Baroda had reported a net profit of INR 50.55 billion, up 4.5% on year. Friday, shares of the bank ended 2.82% lower at INR 281.05 on the National Stock Exchange.  End 

Reported by Cassandra Carvalho

Edited by Deepshikha Bhardwaj

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