Idbi Bank Board Meets Today To Raise Capital

The IDBI Bank board, which will meet tomorrow to decide on the modalities of raising capital, is looking at a Rs 100-200 crore rights or preferential issue.

IDBI Bank had last entered the capital market in February 1999, at the time of its initial public offer. Since then, it has raised tier II capital of Rs 170 crore in three tranches.

Its capital adequacy ratio on March 31, 2003, stood at 9.56 per cent, against the Reserve Bank of India