Government-owned IDBI Bank is vetting options like a rights issue or a follow-on public offer (FPO) in the next 12-15 months. The bank is examining options like rights issue, qualified institutional placement or some other preferential tool to raise capital. This apart, the bank plans to raise close to $1 billion (Rs 4,664 crore) from the overseas market over the next one year.
It recently raised close to $350 million (Rs 1,632.4 crore) in foreign currency, through private placement of bonds. The bank was looking at raising another $350 million in foreign currency through the same route in the short term, said CMD Malla.
In the domestic market, IDBI Bank looks to raise Rs 1,500 crore as Tier-II capital by the end of this financial year. The bank expects a credit and deposit growth of about 20 per cent each by the end of this year.
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