Public sector lender Bank of Baroda has incorporated a subsidiary, BOB Pension Fund Management Company Ltd, with an authorised share capital of ₹100 crore.
The new entity has received its certificate of incorporation from the Registrar of Companies, Ministry of Corporate Affairs, and will operate as a pension fund manager.
New company to manage pension assets
BOB Pension Fund Management Company will receive contributions, accumulate and invest pension assets, and manage and administer them.
The company will also make payments and disbursements to subscribers or beneficiaries in accordance with applicable regulations.
Bank to hold 80.10% stake
Bank of Baroda received the letter of appointment as sponsor of the proposed pension fund from the Pension Fund Regulatory and Development Authority on May 5, 2026.
The Reserve Bank of India approved the incorporation of the new subsidiary on July 10, 2026, to undertake pension fund management business, with Bank of Baroda holding an 80.10% stake.
₹80 crore investment proposed
The proposed acquisition cost is ₹80 crore. Bank of Baroda will subscribe to eight crore equity shares of ₹10 each in the new company.
The subsidiary will operate as a pension fund management company regulated by PFRDA and undertake activities related to pension asset management and administration.