It will be separate company, with both the entities having equal stakes, and the initial capital for the company will be Rs 2 crore.
"We are waiting for the final approval from the Reserve Bank of India (RBI) to start the company," said Yogesh Agarwal, chairman and managing director, IDBI Bank.
The credit information bureau provides information on credit worthiness of borrowers.
Speaking in the sidelines of the FICCI Banking Conclave 2008, Agarwal also said the bank is also in discussions with some foreign fund houses for its mutual fund venture.
"We are in talks with some foreign companies for setting up an asset management company, where we would have the majority holding," he added.
In addition to this the bank is eyeing a foray into the private equity (PE) business, however, Agarwal refused to divulge further details saying, "We are working on it, we might go alone or through a separate company by roping in a partner."
Taking about the capital raising plans, Agarwal said the bank has sent a proposal to the regulator. Without divulging further details, he said, the bank would deploy both a rights issue and a follow-on public offer (FPO), to raise the amount.
"The proposal is with the regulator, but all I can say is that, it would be a combination of both the rights issue and FPO," he added.
The capital adequacy ratio of the bank stands at 11.95 per cent but after complying with Basel II norms it would come down to 10.95 per cent.
The bank is eyeing a 25 per cent credit growth in the present fiscal, with infrastructure and SME as focus areas. IDBI also plans to open 200 new branches in country, and five overseas branches, subject to approval by the RBI.
The overseas branches are slated to come up in Singapore, Dubai, Bahrain and London in addition to a representative office at Shanghai.
