Bank of Baroda has announced plans to divest a 50% stake in Nainital Bank in the first tranche. The move is part of Bank of Baroda’s efforts to optimize its portfolio and focus on core operations. Bidders such as Gaja Capital, Piramal Alternatives-led consortium, Faering Capital, and Unity SFB are expected to participate in the bidding process. As per industry insiders, the consortium led by Piramal Alternatives is a strong contender for the stake. Nainital Bank, headquartered in Uttarakhand, was established in 1922. It offers a wide range of products and services, including retail banking, corporate banking, and treasury operations. The bank has a strong presence in Northern India and aims to expand its footprint in other regions as well. The potential bidders are likely attracted to Nainital Bank’s extensive customer base and network. The bank’s strong brand reputation and growth potential also make it an attractive investment opportunity. The divestment of a stake in Nainital Bank will provide Bank of Baroda with an opportunity to raise capital and strengthen its balance sheet. The first tranche of divestment is expected to provide insights into the value and interest among investors. The bidding process will be closely watched by industry experts and market participants. Bank of Baroda will analyze bids received and select the most suitable investor to acquire the stake. The divestment process is expected to be completed in the coming months, subject to regulatory approvals.