IDBI Bank to borrow up to Rs 4,000 cr via bonds next fiscal year
- Country:
- India
Private sector IDBI Bank Tuesday said the bank would borrow up to Rs 4,000 crore in one or more tranches by issuing bonds in the next financial year. "The board of directors, at its meeting held on Tuesday, (March 19, 2019), has approved rupee bond borrowing limit of Rs 4,000 crore to be borrowed in one or more tranches," the bank said in a regulatory filing.
The borrowing would be comprised of Basel III-compliant tier-II bonds and senior bonds (not more than Rs 1,000 crore) by way of private placement during 2019-20, the bank said. Shares of the bank closed 0.12 per cent down at Rs 43.35 apiece on the BSE.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Asian Development Bank ups India's GDP growth forecast to 7 pc for this fiscal from 6.7 pc estimated in December last year.
ANALYSIS-Swiss banking plan leaves 'relieved' UBS out of immediate firing line
HDFC becomes first private bank to open branch in Lakshadweep
EIB Group and Erste Bank partner to support SMEs and mid-caps in Austria
GRAPHIC-Markets grapple with shifting central bank rate cut bets