Shares of public sector bank (PSB) Bank of Baroda Limited (NSEI:BANKBARODA) (BoB) were locked in at over 3% upper circuit to hit its fresh 52-week high mark of INR 233.75 apiece on the BSE after the bank invited buyers to sell stake in its New Zealand arm on December 27. The country's second-largest PSB said in a newspaper advertisement, "Request for proposal for selection of investment banker for sale/disinvestment of Bank of Baroda's entire 100% stake in Bank of Baroda (New Zealand) Limited." The bank has set the deadline for submission of the proposal at 2:00 pm on January 24. "All liabilities of Bank of Baroda (New Zealand) Limited are guaranteed by its parent bank," said the bank.

"Any private/public limited company/LLP/Firm across the globe can participate in the tender process," said the statement.