IDBI Bank to raise up to Rs 6,000 cr

IDBI Bank on Thursday said its board has approved a proposal for raising up to Rs 6,000 crore through an issue of shares to qualified institutional players

The board at its meeting held on October 29, 2020, passed a resolution for approving the raising of funds for an amount not exceeding Rs 6,000 crore through issue of equity shares through qualified institutions placement subject to approvals of the regulatory and/or statutory authorities, IDBI Bank said in a regulatory filing

IDBI Bank shares closed 1.07 per cent down at Rs 36.85 apiece on BSE.