IDBI Bank is eyeing to raise Rs 26,000 crore through a mix of equity and bonds to fund its business growth. The bank proposes to issue such number of equity shares of the face value of Rs 6,000 crore (inclusive of premium amount) to be added to the existing paid-up capital in such a way that the central government shall at all times hold not less than 51% of the paid-up capital of the bank.
The fund from sale of shares would be raised in one or more tranches. Besides, the bank also plans to raise Rs 20,000 crore from bonds in one or more tranches during the current fiscal.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation. This enables the bank to offer personalized banking and financial solutions to its clients.
