IDBI Bank board to mull fund-raising proposal on Dec 31

IDBI Bank has announced that its board will meet on Tuesday, 31 December 2024, to review and consider a proposal for long-term rupee bond borrowings as part of its debt capital strategy.

In a regulatory filing, the bank revealed that the board will discuss the approval of senior/infrastructure bonds, with a borrowing limit of up to Rs 10,000 crore. The proposed borrowings will be sourced from the domestic market for the financial years 2024-25 and 2025-26.

IDBI Bank is a banking company. Its segments include the corporate/ wholesale banking segment, which includes corporate relationships covering deposit and credit activities other than retail and also covers corporate advisory/syndication and project appraisal.

 

The banks standalone net profit jumped 40.44% to Rs 1,719.27 crore in Q1 FY25 as compared to Rs 1,224.18 crore recorded in Q1 FY24.Total income grew by 3.12% year on year to Rs 7,471.25 crore in the quarter ended 30 June 2024.

Shares of IDBI Bank fell 2.27% to settle at Rs 76.08 on 20 December 2024.

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