IDBI Bank to raise Rs. 1800 crore from Govt. of India

In terms of Govt. of India's letter dated October 22, 2013, the Board of Directors of IDBI Bank Ltd has by circular resolution passed on October 24, 2013, approved the proposal for Preferential Issue of equity capital to Government of India aggregating to Rs. 1800 crore (inclusive of premium amount) subject to approval from shareholders and other Statutory / Regulatory approvals, if any.

Shares of IDBI Bank Ltd was last trading in BSE at Rs.66.50, down by Rs.1.75 or 2.56%. The stock hit an intraday high of Rs.68.65 and low of Rs.66.10.

The total traded quantity was 2.37 lakhs as compared to 2 week average of 3.61 lakhs.

Source : Equity Bulls

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