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Shares of IDBI Bank were up over 2% at Rs 60 on the Bombay Stock Exchange after the board approved foreign currency borrowing limit upto $7.5 billion including borrowing under IDBI Bank's $5 billion MTN Programme listed on the Singapore Stock Exchange.
The amount can be raised in one or more tranches by way of bi-lateral loans/club loans/syndicated loans/lines of credit, Tier II bonds, hybrid instruments like Innovative Perpetual Debt instruments/Additional Tier I bonds and other bonds eligible for classification as capital under Base III and other instruments, the company said in a release.
The stock opened at Rs 59 and touched a high of Rs 60.75. At 12:40PM, over 3.2 million shares were traded on both the stock exchanges.
