IDBI Bank Ltd to raise upto Rs. 20000 crores in FY 2016-17

The Board of Directors of IDBI Bank Ltd at its meeting held on March 22, 2016, has approved in-principle the Rupee Bond issuance limit of Rs. 20,000 crore to be borrowed in one or more tranches comprising of Senior / Infrastructure Bonds, Basel III compliant Tier II / Additional Tier I Bonds by way of private placement / public issue during FY 2016-17 or during one year from the date of passing of the special resolution by shareholders at the ensuing AGM of the Bank, whichever is later.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.69.1 as compared to the previous close of Rs. 70.2. The total number of shares traded during the day was 747965 in over 2799 trades.

The stock hit an intraday high of Rs. 70.5 and intraday low of 68.3. The net turnover during the day was Rs. 51639197.

Source : Equity Bulls

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