IDBI Bank approves raising of Rs. 3771 crores through QIP

The Board of Directors of IDBI Bank Ltd has approved the proposal to raise funds through QIP.

The Board has approved revising the QIP issue size from Rs. 2800 crore approved by the Board on November 04, 2015 to Rs. 3771 crore, in line with the Govt. of India's approval dated December 30, 2015.

The Board also approved the visit of Top Management Team of the Bank to larger Domestic and International Investor Centres to target major investor hubs and BFSI focussed investors including meetings with big-ticket domestic and foreign investors during the period from January 14 till January 25, 2016 in connection with raising of equity capital of the Bank through QIP route.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.61 as compared to the previous close of Rs. 66.1. The total number of shares traded during the day was 1878122 in over 9306 trades.

The stock hit an intraday high of Rs. 66.5 and intraday low of 60.1. The net turnover during the day was Rs. 119655146.

Source : Equity Bulls

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