IDFC Bank Limited approves raising long term funds

The Board of Directors ('the Board') of IDFC Bank Limited ('the Bank') at its meeting held today i.e. April 25, 2017 granted it's approval for borrowing / raising long term funds by issue of redeemable Non-Convertible Debentures and other debt instruments, including instruments eligible for capital benefits under BASEL III norms, on private placement basis, up to an amount not exceeding Rs.10,000 crore, in one or more tranches, in domestic / overseas market, over a period of 1 year, within the overall borrowing limit of Rs. 1,50,000 crore as approved by the Shareholders of the Bank.

The aforesaid securities post allotment would be listed on NSE and / or BSE. The aforesaid issue shall be subject to the approval of the Shareholders at the ensuing Annual General Meeting and any other regulatory approvals as may be applicable.

The Board Meeting commenced at 4.00 p.m. and concluded at 6.20 p.m.

Source : Equity Bulls

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