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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