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IDBI Bank’s board of directors on Wednesday approved rupee bond borrowing limit of ₹7,500 crore for FY 2020-21.
The Life Insurance Corporation (LIC) of India promoted bank said in a statement that the resources would be borrowed in one or more tranches of additional tier-1 bonds up to ₹3,000 crore, Basel III tier-2 bonds up to ₹3,500 crore and senior/infrastructure bonds up to ₹1,000 crore by way of private placement during FY 2020-21.
IDBI Bank shares closed at ₹19.85 apiece, down 1 per cent over the previous close on BSE.
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