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IDBI Bank to raise Rs 10,000 crore via bond issue

IDBI Bank is planning to raise Rs 10,000 crore through issue of rupee bonds and qualified institutional placement route. In this regards, the bank is seeking shareholders’ approval at its next annual general meeting.

The bank will place the agenda before shareholders to issue equity capital aggregating up to Rs 5,000 crore through various alternative modes, including qualified institutional placement.

Besides, State-owned bank will also seek permission for issue of rupee bonds aggregating up to Rs 5,000 crore. The board of directors of the bank at a meeting held today passed these two items to be put before the AGM.

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