The Board of Bank of Baroda (BoB) on Wednesday approved fair equity share exchange ratio for amalgamation of Dena Bank and Vijaya Bank with the former. 

The ratio is: 402 equity shares of Rs. 2 each of BoB for every 1000 equity shares of Rs.10 each of Vijaya Bank; and 110 equity shares of Rs. 2 each of BoB for every 1000 equity shares of Rs.10 each of Dena Bank.

BoB, in a stock exchange notice, said a Grievance Redressal Committee headed by Shri Kode, retired judge of Mumbai High Court, has been set up to address the grievances of minority shareholders. Minority shareholders are those shareholders who either (a) individually or collectively hold at least one per cent of the total paid up equity capital of any of BoB, Vijaya Bank or Dena Bank; or (b) are 100 shareholders acting collectively, of any of BoB, Vijaya Bank or Dena Bank. 

The timelines for grievance redressal are: for filing of written grievances by minority shareholders (January 04 to January 24); submission of report with recommendations to the Boards by the Grievance Redressal Committee (January 25 to January 31); final view / decision by the boards recommendations of the Grievance Redresaal Committee (February 01 to February 07).