Flexibonds 2' To Focus On Pension Funds, Trusts

The Rs 1,500-crore, 'Flexibonds 2' issue of the Industrial Development Bank of India (IDBI) is banking on investments by pension funds, trusts and individuals. P V Narasimham, executive director, IDBI, said it was not looking at big investments by institutions and banks but was targeting the retail segment. The bond issue, aggregating Rs 750 crore with an option to retain an additional Rs 750 crore, opens today with four different products. For the issue, individual investors accounted for nearly 95.64 per cent, where as commercial banks contributed only 1.7 per cent. The four products offered had emerged after evaluating 50 different products, he said.