Outcome of board meeting of IDBI Bank
Held on 06 August 2014
IDBI Bank announced that the Board of Directors of the Bank at its meeting held on 06 August 2014, has approved the following proposals:1. Issue of Long Term Bonds for financing of Infrastructure and Affordable Housing to the extent of Rs. 500 crore with green-shoe option of Rs. 500 crore; and
2. Issue of Basel III compliant Additional Tier I bonds upto the eligible limit as stipulated by RBI, in multiple tranches in INR and/or FC upto a rupee equivalent amount of Rs. 5,500 crore to enhance Tier I capital of the Bank.
subject to Govt. of India's approval and compliance with all applicable laws, regulations & guidelines as well as the approval of shareholders in terms of Section 42 of the Companies Act, 2013 by Postal Ballot issued for the same.
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