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IDBI Bank to raise up to Rs 5,000 crore

The bank will put the proposal for raising equity capital before shareholders at its AGM on July 18

IDBI

Mumbai-based public sector lender IDBI Bank is seeking shareholders’ nod to raise equity capital of up to Rs 5,000 crore through various routes, including qualified institutional placement (QIP), to meet capital adequacy norms.  In addition, the ailing bank will tap market to raise up to Rs 5,000 crore through infrastructure bonds and basel-III-compliant additional tier-I and tier-II bonds. The bank will put the proposal for raising equity capital before shareholders at its annual general meeting (AGM) on July 18. The special resolution passed at the last AGM ...