Money & Banking

IDBI Bank plans to raise ₹28,000 cr

PTI New Delhi | Updated on January 17, 2018 Published on July 25, 2016

Shareholders of IDBI Bank have given its nod to raise up to ₹28,000 crore from a mix of equity and bonds.

At the annual general meeting of the bank held last week, they approved an enabling resolution for issue of shares aggregating up to ₹8,000 crore, inclusive of premium amount, through various modes, including Qualified Institutional Placement (QIP).

Besides, shareholders have also given the go-ahead for mobilisation of one or more tranches of up to ₹20,000 crore, comprising bonds, by way of private placement or public issue, IDBI Bank said in a regulatory filing to the stock exchanges.



Published on July 25, 2016
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